Overview

• President Trump announced the 50% levy after receiving a national security assessment under Section 232 of the Trade Expansion Act.
• U.S. copper futures jumped to record highs in response to the confirmation of the tariff’s effective date.
• Economists warn that higher import duties will push up prices for appliances, electric vehicles and infrastructure projects.
• Canadian mining associations expect minimal disruption since most of their copper concentrates are exported to Asia rather than U.S. refineries.
• Analysts note that boosting domestic copper output will take years due to long mine development cycles and limited refining capacity.