US President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days and indicated he could announce substantial new rates on imports of copper and pharmaceuticals. Bloomberg's Jill Disis reports.
Just over 50% of the total refined copper consumed in the U.S. is imported, according to the U.S. Geological Survey. Of the copper imported, about 38% comes from Chile, according to USGS, followed by Canada (28%) and Mexico (8%).
President Trump said he will impose a 50% tariff on copper imports, and suggested more steep sector-specific duties are on the way.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
US President Donald Trump said Tuesday he plans to impose a 50% tariff on copper as part of a sweeping set of sector-specific trade measures targeting metals, semiconductors, and pharmaceuticals. Copper futures in New York surged as much as 17% following the remarks, marking the largest intraday gain since at least 1988.
President Donald Trump said he will impose a 50% tariff on copper imports, and suggested more steep sector-specific duties are on the way. "Today, we're doing copper," Trump said during a Cabinet meeting.
President Donald Trump said he will announce a 50% tariff on imported copper on Tuesday, an effort to boost U.S. production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods.
Some 32% of global semiconductor production could face climate change related copper supply disruptions by 2035, quadrupling from today's levels, advisory firm PricewaterhouseCoopers (PwC) said in a report for business leaders on Tuesday.
Copper hit a three-month high near $10,000/ton as tight supply, strong demand, and trade optimism fuel gains. Tap CPER and COPX.
Citi's latest note on copper suggests demand growth will slow down as we move through the third quarter of 2025. The American bank's copper consumption tracker showed a strong 6.1% year-on-year increase in April, thanks mainly to early demand for solar projects in China and electric vehicle growth, also led by China.
Canaccord Genuity has launched coverage of ACG Metals Ltd (LSE:ACG, OTC:ACGAF) with a 'buy' rating and an 830p price target, pointing to significant upside as the miner prepares to shift from gold to copper at its flagship Gediktepe project in Turkey. The transition, scheduled for 2026, will see ACG move from its current gold oxide production to a copper sulphide operation.
Peru is ramping up efforts to cement its role as a global mining powerhouse, forecasting $4.8 billion in new investment in 2025 as demand for copper and other critical minerals accelerates. The Energy and Mines Ministry expects output to rise in 2025, as global producers and junior miners double down on one of the world's richest copper reserves.