Trump Announces Tariff on Copper Imports
(MENAFN) US President Donald Trump declared on Wednesday that a 50 percent tariff on copper imports, which he revealed the day before, will come into force on August 1, 2025.
"I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT," Trump stated on his Truth Social platform.
Copper plays a crucial role in the production of semiconductors, aircraft, ships, ammunition, data centers, lithium-ion batteries, radar systems, missile defense mechanisms, and even hypersonic weapons, "of which we are building many," he emphasized.
Highlighting copper as the second most extensively used material by the US Department of Defense, he questioned, "Why did our foolish (and SLEEPY!) ‘Leaders’ decimate this important Industry?”
He continued, "This 50% TARIFF will reverse the Biden Administration’s thoughtless behavior, and stupidity. America will, once again, build a DOMINANT Copper Industry. THIS IS, AFTER ALL, OUR GOLDEN AGE!"
Following Trump’s announcement on Tuesday about the 50 percent tariffs on copper imports, prices surged to record highs in international markets.
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