President Donald Trump announced that his administration would impose 50% tariffs on imported copper, which takes a new new in his comprehensive levy policy.
Copper prices increased after President on Tuesday Donald Trump’s Announce that he will impose 50% tariff on copper imports as it wants to promote important metal domestic production.
The price of copper has reached a record high after the President’s announcement in a cabinet meeting in front of the press that his administration will impose 50% tariff on copper, to start a national security review after Trump’s move earlier this year. Copper import This summer is expected to conclude.
“Today we are copper,” said the President. “I am confident that tariffs on copper, we’re going to make it 50%,” although he did not specify if it would be limited to copper imports from some countries. Commerce Secretary Howard Lutnik indicated that the tariffs would be imposed in July or later in August.
Copper futures increased by 13% after the announcement, the largest one day step in the history of commodity, as tariff plans already indicated more obstacles on in-demand metal.
Trump pledged 50% tariff on copper imports
Copper was already in high demand before the tariff declaration amid efforts to upscale the electrical grid. (Andry Rudkov / Bloomberg / Getty Images)
Price Futures Group and Fox Business Network senior market analyst Phil Flynn wrote in an investor note that the copper was already facing a “structural shortage” as it is in the midst of increasing electricity demand from data centers as a conductive metal due to being in high demand and artificial intelligence,
Flynn wrote that “the market felt how the global copper supply was really severely bound” and that the copper market “may require a shock to get the prices more so that we can meet the demand” expected to grow in future.
Trump’s Energy Department has warned that Americans may face 800 hours of blackout by 2030.
Copper Mine outside Salt Lake City, Utah. (Planet One Image / Universal Image Group Getty Image / Getty Image)
LPL Financial’s Chief Technical Strategist Adam Turnlist wrote in an investor note that investors were “caught by guards, as the market was expecting a very low tariff rate.”
Turnquist said increase in demand US copper London Metal Exchange pushed domestic prices at 25% premium on copper trading, with low copper inventions and it can cause global supply deficiency.
The turnquist wrote, “rising copper prices can greatly affect copper-intensive areas such as building construction, equipment manufacturing, electric vehicles and electronic products.” “Extensive use of copper can also fulfill the concerns of inflation.”
The price of copper reached a record high after the announcement of President Trump at a cabinet meeting before the press, that his administration would impose 50% tariffs on copper imports. (Istock / istock)
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So far in 2025, copper prices have increased by more than 37%, including an increase of 29% in the last six months and an increase of more than 12% in the previous month.
In the last one year, copper prices are more than 21%.
Michael Dorgon and Reuters of Fox News Digital contributed to this report.
