Starting August 1, 2025, the US will implement new import tariffs on copper at a rate of 50%, impacting the market and raising concerns among producers.
Information on the New Tariff
According to Bloomberg, the new tariffs will fully cover refined copper, which is the largest import category. The inclusion of refined metal is expected to create ripple effects across key sectors such as energy, construction, electronics, and automotive manufacturing. Export control measures will also affect semi-finished copper products, including rods and tubes.
Industry Reaction to the Tariff
Shortly after the tariff announcement, the Council of Economic Advisers met with metals industry executives, who urged the president not to include export controls on copper. They highlighted that blocking exports would not address the domestic shortfall but would create a surplus that cannot be processed.
Response from Exporting Countries
Chilean Mining Minister Aurora Williams confirmed that her government is seeking an exemption from the new tariffs. Meanwhile, Canadian Industry Minister Melanie Joly labeled the tariffs as illegal and expressed her intent to fight them. Analysts suggest that the copper market has already begun to react, with US consumers potentially utilizing existing stockpiles.
The introduction of new copper tariffs on August 1, 2025, may have significant implications for the US economy and the global copper market. Discussions with industry leaders and responses from exporting countries will be crucial in developing the situation.
