President Donald Trump announced Tuesday that the United States will impose a 50% tariff on all copper imports, marking the fourth major tariff expansion of his second term.
“Today we’re doing copper,” Trump said during a Cabinet meeting, confirming the decision but offering no timeline for implementation.
The move follows a Section 232 investigation into copper imports ordered by the president in February. Copper, used in everything from electronics to cars, is the latest commodity to face heightened trade barriers under Trump's tariff strategy.
Following the announcement, copper futures on the New York exchange jumped as much as 15%, reaching an all-time high of $5.66 per pound. Prices have climbed 38% so far this year as importers race to stockpile copper ahead of expected cost increases.
Tariffs on steel, aluminum, and automobiles are already in place, as Trump doubles down on his America First trade agenda.
