Canada struck with 35% tariffs, Trump floats higher blanket rates

President Trump has announced a 50% tariff on all copper imports to the US to come into effect on August 1, following through with statements earlier this week.

Posting on Truth Social, the president said:

About half of the copper used in the US is imported, with the vast majority coming from Chile, according to Reuters. The other half is domestically mined and processed, with a significant portion coming out of Arizona.

At this time, Trump has not indicated plans to increase domestic production, nor shown a road map around how the metal, essential in electronics across a number of industries, will be sourced for usage.