United States President Donald Trump confirmed on Tuesday the imposition of a 50% tariff on imported copper. The measure was released during a cabinet meeting in the White House and is part of a sectoral tariff package aimed at strengthening national production. The US government had already begun a formal investigation into imports of metal through section 232 of the 1962 Trade Expansion Law.
During the meeting with government members, Trump stated that he intends to apply various rates, between 10% and 70%, over different sectors. In the case of copper, the definition was for a 50%rate. The announcement had immediate impact on the financial market. Future copper contracts on New York’s Comex Comex have risen up to 17% throughout the day, recording the highest intraordinary advances since the beginning of the historical series in 1988.
Copper is classified as a strategic input in the United States. Metal is widely used in the manufacture of electric vehicles, the military industry, energy distribution networks and electronic products. The new fare aims to encourage internal production and reduce dependence on international suppliers.
In addition to the metal sector, Trump indicated that he intends to apply new drug rates and semiconductors. In the case of the pharmaceutical industry, the government should grant up to 18 months for companies to transfer part of their operations to US territory before applying a tariff of up to 200% over products manufactured abroad.
The measures announced are part of a broader commercial strategy. In addition to sectoral tariffs, Trump management also prepares the application of specific tariffs per country, scheduled to start in August. These new charges do not apply to products affected by Section 232 and should reach exports from countries such as Japan, South Korea and members of the BRICS block.
