Washington: US President Donald Trump has opened a new front in his ongoing trade war by ordering a study on imposing new tariffs on copper imports. This move is aimed at rejuvenating US production of the metal, which is crucial for manufacturing electric cars, military equipment, semiconductors, and various consumer goods.
According to National Iraqi News Agency, Trump has signed an order directing Commerce Secretary Howard Lutnick to initiate a national security investigation. This is under a law previously used by the president during his first term to impose 25 percent tariffs on steel and aluminum imports. A White House official indicated that any potential tariffs would be decided through this investigation, with Trump favoring tariffs over import quotas.
White House trade adviser Peter Navarro stated that the investigation would proceed swiftly “on Trump’s time.” He also emphasized that China is leveraging government support and economic influence to dominate the global copper market, similar to its current standing in steel and aluminum production.
Countries likely to be significantly impacted by any new US copper tariffs include Chile, Canada, and Mexico, which were the largest export markets for copper and copper materials to the United States in 2024, as reported by the U.S. Census Bureau. Last year, the US exported $11.3 billion in copper and imported $9.6 billion, according to the Census Bureau.
Additionally, the Federal Reserve’s mining index for copper, nickel, lead, and zinc reached its peak in 1998 and has since decreased by over 30 percent. In a separate move, Trump has removed exemptions from his 2018 tariffs on steel and aluminum and plans to impose a 25 percent tariff on all imports from Mexico and Canada, along with a 10 percent tax on Canadian energy products like oil and electricity.