Trump imposes universal 50% tariffs on semi-finished copper imports

President Donald Trump signed a Proclamation to address the effects of copper imports on America’s national security, including by imposing tariffs on several categories of copper imports, the White House announced. “The Proclamation imposes universal 50% tariffs on imports of semi-finished copper products (such as copper pipes, wires, rods, sheets, and tubes) and copper-intensive derivative products (such as pipe fittings, cables, connectors, and electrical components), effective August 1. The copper 232 tariffs apply to the copper content of a product; non-copper content of a product remains subject to reciprocal tariffs or other applicable duties. These tariffs do not stack. The copper 232 tariffs do not stack with auto 232 tariffs. If a product is subject to auto 232 tariffs, then the auto 232 tariffs apply, not the copper 232 tariffs. Copper input materials (such as copper ores, concentrates, mattes, cathodes, and anodes) and copper scrap are not subject to 232 or reciprocal tariffs,” the White House stated in a fact sheet. Publicly traded companies in the copper mining and production space include Freeport McMoRan (FCX), Southern Copper (SCCO), Rio Tinto (RIO), BHP (BHP), and Glencore (GLNCY).