Trump’s Tariffs on Copper Could Turn into an Own Goal
This past week, President Trump announced that the U.S. would be imposing a 50% tariff on copper imports. The tariff, which will come into effect on August 1st, is meant to encourage the domestic mining and smelting of the red metal. It is yet to be clarified what products are included in the tariff, as the industrial metal is crucial in the manufacture of electric vehicles, semiconductors and military hardware, as well as various consumer goods. Additionally, the Trump administration hasn’t revealed whether there’s room for lower rates or exemptions for major suppliers to America like Chile. Experts argue that…