Trump Orders Review of Possible Tariffs on Copper Imports/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ President Donald Trump has directed the U.S. government to explore tariffs on copper imports as part of efforts to reshape global trade and address national security concerns. The move targets China’s growing copper industry while aiming to revive domestic mining and refining. Despite U.S. copper exports exceeding imports, the administration cites supply vulnerabilities as justification.
Copper Tariff Proposal Quick Looks
- Trump signs executive order to study copper import tariffs
- Move targets China’s copper sector and addresses national security risks
- U.S. exports surpass imports, but supply-demand forecasts raise concerns
- Tariffs aim to revive U.S. mining and smelting industries
- Federal Reserve mining index down 30% since 1998 peak
- Part of Trump’s broader plan for $3 trillion in import tariffs
- Economists warn of potential economic slowdown, though copper impact seen as minimal
Trump Orders Review of Possible Tariffs on Copper Imports
Deep Look
WASHINGTON — President Donald Trump directed U.S. trade officials Tuesday to consider new tariffs on copper imports, marking the administration’s latest move in its aggressive effort to overhaul global trade practices.
“It will have a big impact,” Trump said before signing the executive order at the White House.
The proposed tariffs are part of Trump’s “America First” trade agenda, with officials citing both economic and national security concerns.
Why Copper?
Targeting China:
- White House trade adviser Peter Navarro said the move is aimed at countering China’s copper industry expansion.
- China’s dominance in global copper production is seen as a strategic vulnerability for the U.S.
National Security Angle:
- Copper is vital for:
- Military equipment
- Technology production
- Energy infrastructure
- Navarro emphasized reviving domestic mining, smelting, and refining capacities.
US Copper Trade Snapshot
- 2024 Copper Trade Figures:
- $11.3 billion exported
- $9.6 billion imported
- Despite a trade surplus, future supply risks prompted the tariff review.
- Federal Reserve mining index shows a 30% decline since 1998, underscoring domestic production concerns.
Part of a Bigger Tariff Strategy
Trump’s copper tariff review follows a series of trade moves:
- Steel & Aluminum: 2018 tariffs reinstated after exemptions removed
- North American Trade:
- 25% tariffs on Mexican and Canadian imports planned
- Canadian oil and electricity imports targeted at 10%
- Other Tariff Targets:
- Autos
- Computer chips
- Pharmaceutical products
“Imports should equal exports. We’re addressing trade deficits everywhere,” Trump reiterated.
Economic Impact & Concerns
Economists Cautious:
- Broader tariff plans could slow economic growth and raise prices.
- Copper alone is unlikely to significantly impact inflation, experts say.
Global Trade Fallout:
- Potential for retaliatory tariffs from trading partners
- Increased market uncertainty amid ongoing trade disputes
What’s Next?
Review Timeline:
- U.S. trade agencies to assess potential economic effects in the coming weeks
- Trump signaled possible decisions by early spring
Focus Areas:
- Domestic industry revival strategies
- Global copper supply chain risks
- China’s market influence
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