US President Donald Trump confirmed via Truth Social that a 50 percent tariff on all copper imports will take effect 1 August 2025. The move—far steeper than traders expected—adds another front to the administration’s effort to shake up global supply chains.
Industry groups warn the duty will raise costs for US manufacturers of cars, appliances and electronics, which source nearly half their copper abroad. Futures prices in New York have already jumped, trading at a 2.5 percent premium to London Metal Exchange contracts, as traders rush to land cargoes before the deadline. Details on product coverage and possible exemptions remain unclear. The US currently relies on Chile, Canada and Mexico for most copper, and analysts say building domestic mining and smelting capacity will take years.