President Trump on Tuesday directed the Secretary of Commerce to investigate the need for possible copper tariffs. It is the latest industry that could be a target for Trump's sweeping trade agenda.
“Like our steel and aluminum industry, our great American copper industry has been smashed by global actors attacking our domestic production,” said Commerce Director Howard Lutnick. It was stated in a statement. “We will investigate possible tariff levies to build the copper industry. Tariffs will help revive the American copper industry and strengthen national defense if necessary.”
White House officials argued that copper and copper alloys are important for military hardware and national security preparations. They rely on foreign copper production, citing concerns about foreign copper dumping as the reason Trump is instructing Lutonic to conduct investigations that could precede tariffs.
The goal is to increase copper production domestically, White House officials said. There was no immediate schedule for when the investigation would end or when the tariffs would be announced. White House officials say it is to “movement as quickly as possible and get the results of the investigation at the president's desk for possible actions.”
Lutnick's investigation into the copper industry comes after Trump took action earlier this month to crack down on attempts to bolster all steel and aluminum imports to the US and avoid penalties by China and Russia.
Trump is also threatening mutual tariffs on imports from all countries that collect tariffs on US goods, which are scheduled to take effect in early April. He has also come to the prospect of placing tariffs on automobile imports, wood, medicines and other goods.
The president delayed 25% tariffs in Canada and Mexico until early March after agreeing to take action to crack down on the flow of illegal drugs at the border.
ReutersIt has been reportedIn January, the US imported 38% of its copper needs.
White House officials said the US produces 28% of the copper produced by Chile and 14% of what China produces. aUS Geological Survey ReportThe US produced approximately 1.1 million tonnes of recoverable copper in 2023, valued at $9.9 billion, down 11% from its value in 2022. Reports on production for 2024 were not available yet.
