US EditionKevin Hassett: Trump's 50% Tariff on Copper Imports Aims to Prepare for US for Future 'Time of War'
UNITED STATES AND CHILE, JUL 13 – The 50% tariff on copper imports aims to boost U.S. production but risks trade disputes and higher costs, with traders profiting over $300 million from market disruptions.
- In a move effective August 1, 2025, U.S. President Trump has imposed a tariff of 50 percent on imported copper to encourage increased domestic production.
- The tariff announcement followed Trump's America First policy to reduce dependence on foreign copper amid stalled U.S. production and rising global demand.
- Copper prices surged 13 percent in a single day on the COMEX, reaching a record $5.645 per pound, driven by energy demand and speculative trading.
- Analyst Tom Price noted that the traders who bet on the impact of tariffs have proven successful, resulting in substantial overall gains.
- The tariff sparked international resistance from Canada, Chile, and Mexico and risks retaliatory trade measures, supply disruptions, and higher manufacturing costs.
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Kevin Hassett: Trump's 50% tariff on copper imports aims to prepare for US for future 'time of war'
The White House Economic Council Director is defending President Donald Trump's decision to impose a 50% tariff on copper imports.In an interview on ABC's "This Week," Director Kevin Hassett pointed to the importance of the U.S. being self-sufficient when it comes to key resources."The bottom line is that if there is a time of war, then we need to have the metals that we need to produce American weapons," Hassett said on the show on Sunday."And …
In full tension over the announcements by U.S. President Donald Trump about new tariffs on the aligned countries...
On Saturday, the Foreign Ministry of Chile reported that between July 28 and 31, the second round of technical talks between our country and the United States will take place in Washington, D.C., within the framework of the joint road map aimed at strengthening the bilateral economic and commercial relationship. Representatives of the Undersecretary of International Economic Relations (SUBREI) and the Ministry of Finance will participate in the …
The president’s announcement of a 50% tariff disconcerts the entire industry and threatens to address virtually everything that is plugged in, moved in or built up in the country
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