Former U.S. President Donald Trump has announced a sweeping 50% tariff on copper imports, aiming to revive domestic production of the metal crucial to electric vehicles, military hardware, and modern infrastructure. The unexpected move has already triggered a sharp spike in copper futures and rattled global markets.
President Donald Trump announced on Monday that his administration will impose a 50% tariff on copper imports a significant leap from current trade duties and a move designed to jumpstart American copper production.
“I believe the tariff on copper, we’re going to make it 50%,” Trump told a crowd of supporters, surprising markets and policymakers who had not anticipated the rate or timing of the measure.
Shortly after Trump’s statement, U.S. Commerce Secretary Howard Lutnick confirmed in an interview with CNBC that the tariffs would likely take effect by the end of July or August 1. He said Trump will provide further details through a post on his Truth Social platform.
Copper, often dubbed “the metal of electrification,” plays a critical role in electric vehicles (EVs), solar panels, wind turbines, military technologies, and modern power grids. The U.S. currently imports a large share of its copper from countries like Chile, Peru, and Canada making the tariff announcement a potential flashpoint in international trade relations.
U.S. Comex copper futures surged more than 12% following the announcement, hitting record highs amid fears of disrupted supply chains and rising costs for manufacturers.
Trump’s move builds on a Section 232 investigation launched in February, which is examining whether copper imports threaten national security. The probe was originally due to conclude in November, but Monday’s announcement suggests an accelerated policy rollout.
“This is about securing America’s industrial backbone,” Lutnick said. “We must reduce dependence on foreign copper sources and revitalize mining and refining at home.”
Critics argue that the tariffs could backfire, raising production costs for American industries and provoking retaliation from key trade partners. Environmental groups have also voiced concerns about ramping up domestic mining, which could strain ecosystems and public lands.
Still, the decision may resonate with voters in copper-rich swing states like Arizona and Montana, where mining remains a major economic force.
As the U.S. edges closer to the 2024 election cycle, Trump’s copper tariff could become a defining policy marker tying economic nationalism to the country’s energy future. More details are expected in Trump’s upcoming Truth Social post.
