Recent news reports and official statements indicate that the Trump administration has taken action regarding tariffs on copper imports:
· Tariff
Announcement: President Trump announced a 50% tariff on copper imports,
scheduled to take effect on August 1, 2025.
· National Security
Assessment: This decision was made after receiving a national security
assessment regarding copper, which Trump described as "robust".
· Rationale: The
administration cites copper's critical importance for national security,
including its use in semiconductors, aircraft, ships, ammunition, and defense
systems. They argue that an overreliance on foreign copper threatens the
nation's defense capabilities, infrastructure, and technological innovation.
· Section 232
Investigation: The tariff is a result of a Section 232 investigation
initiated by the Trump administration into copper imports, exploring their
impact on national security and the domestic industry.
· Fact Sheet: The
White House has issued a fact sheet outlining these actions, focusing on the
national security implications of relying on foreign copper and the need to
strengthen the domestic copper industry, according
to a White House fact sheet.
· Broader
Context: These copper tariffs are part of a broader series of trade
actions and tariff threats initiated by the Trump administration targeting
various countries and industries, often with a stated goal of addressing trade
imbalances and protecting American industries and jobs.
· Fact Sheet: President
Donald J. Trump Addresses the Threat ...
Feb
25, 2025 — America's reliance on copper imports has surged from virtually 0% in
1991 to 45% of consumption in 2024, heightening risks to supply chain security.
https://www.google.com/search?q=trump+tariff+on+copper+whitehouse
The Resolution Copper mine, located in Arizona, is anticipated to be a major source of copper for the United States. Once developed, it could supply up to 25% of the country's annual copper demand for the next four decades. The mine is a joint venture between Rio Tinto and BHP.
The Resolution Copper project is still in the development phase, with ongoing permitting processes and a land exchange agreement with the US government. The project is expected to create numerous jobs and bring significant economic benefits to the region. The mine is located in Arizona's Copper Triangle, near the town of Superior.
While
the Resolution Copper mine is the most prominent project aiming to
significantly increase domestic copper production, other mines like the Cactus
Mine and Copper
World Project are
also contributing to Arizona's copper output. The Cactus Mine, owned
by Arizona
Sonoran Copper Company, is located on private land and aims to supply copper
for the renewable energy sector. The Copper World Project, a proposed
open-pit mine, is located southeast of Tucson.
https://www.google.com/search?q=what+arizona+copper+mine+will+be+used+to+provide+copper+to+the+us
In
2024, the Morenci mine in Arizona, operated by Freeport-McMoRan, was the
largest copper mine in the US, according to Nasdaq. It produced 700
million pounds of copper metal in 2024. Other significant contributors to US
copper supply in 2024 included the Kennecott and Safford mines, also in
Arizona.
https://www.google.com/search?q=what+copper+mine+was+used+to+provide+copper+to+the+us+in+2024
In
2024, the Cerro Verde mine in Peru and the Escondida mine in
Chile were key South American sources of copper for the US market, according to Anglo
American and Investing News Network. Cerro Verde,
operated by Freeport-McMoRan, is a major copper and molybdenum producer, while
Escondida, co-owned by BHP and Rio Tinto, is the world's largest copper
mine.
Comments
Trump has included Copper as a “critical metal” required to produce electronics and defense equipment.
Norb Leahy, Dunwoody GA Tea Party Leader
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