The Secretary of Commerce said copper-related tariffs would be imposed on national security reasons.
President Donald Trump intends to impose tariffs on copper imports, according to Commerce Secretary Howard Luttonick, who said that the trade policy plan for industrial metals, including aluminum and steel, is to build strong domestic production capacity as part of the vision of “great and great America.”
“We cannot participate in wars, we cannot rely on steel or aluminum from other countries, meaning that it’s just not reasonable,” Rutnick said. “So the President wants steel and aluminum in America, so let me be clear. There’s nothing to stop it until we have the capacity to have big, strong domestic steel and aluminum. By the way, he’s going to add copper to that mix.”
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“This domination, coupled with global overcapacity and control of a single producer of global supply chains, poses a direct threat to the US national security and economic stability,” Trump said in order, referring to China’s domination of copper supply.
Trump’s order directed Lutnick in consultation with the Secretary of Defense, Secretary of Interior and Secretary of Energy to assess national security risks related to copper import dependence and to consider whether tariffs are appropriate.
At the time, Lutnick said, “Taxes can help build the American copper industry and strengthen national defense if necessary,” adding that it was “time for copper to return.”
Trump’s trade adviser Peter Navarro warned that China is using industrial overcapacity and subsidies to control the global copper market, as well as its steel and aluminum strategy.
Navarro predicted that increasing production at major sites could lead to a 70% increase in US copper production and a 30% reduction in import trust by 2035.
“Our copper potential is unexplored,” Navarro said.
Emel Akan contributed to this report.
