Tue Jul 08 21:43:57 UTC 2025: ## Trump Announces 50% Tariff on Copper Imports, Sending Futures Soaring

**Washington D.C. -** President Donald Trump announced today a sweeping 50% tariff on copper imports, a move intended to bolster domestic production of the critical metal. The announcement, made during a White House cabinet meeting, sent US Comex copper futures skyrocketing more than 12% to a record high.

“I believe the tariff on copper, we’re going to make 50 percent,” Trump stated, promising to release further details on his Truth Social platform later today.

According to Commerce Secretary Howard Lutnick, the tariff is expected to be implemented by the end of July or early August. The decision follows a Section 232 investigation into US copper imports, which allows the Commerce Department to analyze the impact of imports on national security.

“The idea is to bring copper home, bring copper production home, bring the ability to make copper, which is key to the industrial sector, back home to America,” Lutnick explained.

The US currently imports roughly half of its copper needs, utilizing it in crucial sectors like construction, transportation, electronics, electric vehicles, military hardware, and the power grid.

The planned tariff has drawn mixed reactions. Shares of Freeport-McMoRan, the world’s largest copper producer and a company that would benefit from the tariff, jumped nearly 5% in afternoon trading. However, the company has not yet issued an official statement. The National Mining Association also declined to comment, citing the need for more details.

Analysts warn that the tariff could negatively impact US companies relying on copper imports. “The US has imported a whole year of demand over the past six months, so the local storage levels are ample,” said Ole Hansen, head of commodity strategy at Saxo Bank. “I see a correction in copper prices following the initial jump.”

The move is likely to strain trade relations with major copper suppliers like Chile, Canada, and Mexico, who together accounted for the majority of US refined copper, copper alloys, and copper products imports in 2024. These nations, all with existing free trade agreements with the US, have previously argued that their copper imports do not pose a threat to US national security. None of the countries have immediately issued public statements.

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