Donald Trump announced a “national security” tariff of 50% on copper, a crucial metal for energy transition and other technologies. The president mentioned the United States’ need to build semiconductors, airplanes, ships, ammunition, data centers, and missile defense systems, among other developments where the metal is essential.
Operators fear that if these tariffs come into effect, the prices of products manufactured with that metal, such as refrigerators and automobiles, will increase.
What did Trump say to impose tariffs on copper?
“I am announcing a 50% tariff on copper, effective August 1, 2025,” Trump posted on his Truth Social platform. He claimed that the measure is being taken after a “thorough evaluation of national security.”
“The president added, ‘Copper is the second most used material by the Department of Defense!’”
In the name of balancing trade relations, Trump imposed a minimum tariff of 10% on imports in April, even if they cannot be produced in the country, although with some exemptions, particularly for gold, copper, oil, and medicines.
On Tuesday, he backtracked on these exceptions and considered, in addition to copper, a 200% tax on pharmaceutical products. His initial threat to impose a 50% tax on copper caused the metal price to skyrocket almost 10% on the New York Stock Exchange on Tuesday, surpassing its historical high.
According to CNN, Chile was the largest exporter of copper to the United States in 2024, with sales of 6 billion dollars.
After Trump’s announcement, Chile’s president, Gabriel Boric, opted for a moderate stance and said that “The government, in the face of these issues, reacts cautiously, as is appropriate in diplomacy. Diplomacy is not conducted through social media, but through official publications, so we are waiting for the official communication from the United States government and what the policy will be,” as reported by Publimetro Chile.