U.S. President Donald Trump on Tuesday ordered a probe into possible tariffs on copper imports to rebuild U.S. production of a metal critical to electric vehicles, military hardware, semiconductors and a wide range of consumer goods.
An executive order mandates a review of the threats posed by over-reliance on foreign copper, and recommendations for increasing domestic supply.
President Donald Trump has made it clear that he is concerned about the United States’ dependence on foreign countries for much of its copper and is looking to boost domestic mining of the metal, but his efforts are likely to feed inflation and take years to reap rewards.
Tariffs, if they are imposed, could boost U.S. production of a valuable resource but also raise costs for automakers, construction companies and others.
An executive order calls for boosting the domestic industry by investigating the national security implications of imports and weighing tariffs.
The White House suggested Tuesday there is a strong case for copper import protections because the metal is an essential component of military hardware.
The officials, briefing reporters on condition of anonymity, said it was premature to discuss a potential rate for the tariffs. Copper futures in New York surged nearly 5% for their biggest intraday gain since May last year.
President Trump issued an executive order (EO) requiring the US Department of Commerce (Commerce) to investigate the national
President Donald Trump has signed an executive action directing the Commerce Department to examine possible copper tariffs, the latest in a string of measures aimed at imposing sector-specific levies that could reshape global supply chains.
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The aide expressed concern that China could gain control of the world’s copper markets at the expense of the United States, whose companies he said have seen their share of both domestic and ...
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