Trump's Bold Copper Tariff Move
President Donald Trump has enacted a 50% tariff on specific copper imports, emphasizing national security concerns. Effective August 1, the tariffs target semi-finished copper and certain derivative products, excluding copper scrap and raw materials. The move follows an investigation initiated in February, aiming to bolster the domestic copper industry.
President Donald Trump, in a significant policy maneuver, signed a proclamation on Wednesday instituting 50% tariffs on select copper imports, citing the need to protect national security. The White House disclosed this information in an official statement.
The new tariff will affect semi-finished copper products and copper-intensive derivative items, set to commence from August 1. However, the proclamation specifically exempts copper scrap and raw input materials, such as copper ores, concentrates, and cathodes, from this tariff imposition.
The declaration followed an investigative process under Section 323 that Trump ordered in February. This move aims to inject strength into the domestic copper industry by ensuring that 25% of high-quality scrap produced domestically is retained within the U.S. market.
(With inputs from agencies.)
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