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2w ago

Trump Imposes 50% Tariffs on Copper and Brazilian Goods from August 1

The administration says the steep levies will rebuild U.S. copper smelting capacity to protect critical defense supply chains

Copper cathodes are seen inside a warehouse near Yangshan Deep Water Port, south of Shanghai March 23, 2012. REUTERS/Carlos Barria/File Photo
Sections of copper tubing is pictured at Cancoil, manufacturer of commercial refrigeration products, during a press conference in Kingston, Ont., Thursday, April 3, 2025. THE CANADIAN PRESS/Sean Kilpatrick

Overview

  • President Trump announced on Truth Social that a 50% tariff on copper imports and a matching duty on Brazilian goods will take effect August 1 under Section 232 and Section 301 authorities.
  • U.S. copper futures climbed more than 8% to record highs and shares of mining companies jumped after the tariff declaration.
  • Top suppliers including Chile, Canada and Mexico have formally requested carve-outs ahead of the August deadline to avoid the new duties.
  • The White House argues the levies are needed to revive domestic copper production and secure materials for semiconductors, batteries and military hardware.
  • Brazil signaled it will retaliate under its Economic Reciprocity Law and the European Union is racing to finalize a trade framework to avert similar tariffs.