- President Trump’s 50% tariffs on copper, due to start August 1, are causing unusual distortions in the metal markets. Copper is now 25% more expensive in New York than London. And there’s a rally in copper scrap.
It’s happening. President Trump is indeed imposing a 50% tariff on all imported copper. He posted on Truth Social yesterday: “After receiving a robust NATIONAL SECURITY ASSESSMENT. Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many. Copper is the second most used material by the Department of Defense!”
