Trump announced a 50% tariff on all copper imports starting August 1, citing national security concerns over America’s reliance on foreign copper, according to Benzinga. The administration warned of these risks as early as February, pointing to U.S. dependence on overseas mining, smelting, and refining sectors dominated by a single foreign player. The U.S. lacks refining capacity and remains a net importer, despite holding domestic reserves. Copper imports surged ahead of the tariff, with 461,000 tons brought in between January and April, a 232,000-ton increase from the same period last year. Commerce Secretary Lutnick confirmed the tariff’s timeline, calling copper “finished” and stating that the levy is likely to take effect on August 1.
