By John Meyer, consultant in financial affairs – Eurasia Business News, July 8, 2025. Article no. 1603
President Donald Trump announced on Tuesday that the United States will impose a 50% tariff on all copper imports, marking one of the steepest sector-specific tariffs of his administration. The announcement, made during a White House cabinet meeting, immediately sent copper prices soaring to record highs.
Copper futures in New York surged nearly 17% intraday, reaching an all-time high of $5.9535 per pound, before settling around $5.55/lb. On the COMEX exchange, prices exceeded $12,330 per metric ton, up more than 12% in a single day.
Trump did not specify the exact date for the tariff’s implementation, but he reiterated that tariffs on a range of imports—including copper—will begin on August 1, 2025, with no extensions.
The move follows a Section 232 investigation into copper imports, citing national security concerns and aiming to boost U.S. domestic production.
Canada, a major copper supplier to the U.S., is among the countries most affected, with over half its copper exports going to the American market.
Trump also hinted at further tariffs on pharmaceuticals and semiconductors, signaling a broader escalation of his protectionist trade agenda. The copper tariff announcement has heightened volatility in global commodity markets and drawn warnings from trade partners about possible retaliatory measures.
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© Copyright 2025 – Eurasia Business News. Article no. 1603.
Eurasia Business News 