Trump studies imposing tariffs on copper, with American countries most affected
On February 26, Trump opened another front in his attack on global trade norms, ordering a new investigation into possible new tariffs on copper imports to rebuild U.S. copper production. Copper is crucial for electric vehicles, military hardware, semiconductors and a variety of consumer goods. Trump signed an order directing Commerce Secretary Lutnik to launch a new national security investigation under Section 232 of the Expanded Trade Act of 1962, the same law Trump used to impose global tariffs of 25 percent on steel and aluminum during his first term. A White House official said any potential tariff rates would be determined by the investigation, with Trump preferring tariffs over quotas. According to US survey data, the countries most affected by potential US copper tariffs will be Chile, Canada and Mexico, which are the top suppliers of refined copper and copper products in 2024. White House officials added that projections based on demand for electric vehicles and artificial intelligence point to future copper shortages.