US President Donald Trump has ordered an investigation into copper imports as part of his efforts to boost US production and counter China’s influence in the global market. The probe is a first step towards potential tariffs on the metal, which is crucial for making electric cars, ships, and data centers.
The White House aims to protect US copper companies from competition with China, citing the country’s history of using industrial capacity and dumping as an economic weapon. Commerce Secretary Howard Lutnick stated that “it’s time for copper to come home.” The investigation will examine copper imports, including those of copper derivatives.
This move is part of Trump’s broader trade strategy, which has seen him raise tariffs on Chinese goods and threaten a 25% border tax on Canadian and Mexican imports. However, the plan has sparked concerns about higher costs and lower consumer confidence, with recent surveys showing a sharp drop in consumer confidence. The probe’s timeline remains unclear, but officials say its results will inform possible tariff levels.
Source: https://www.bbc.com/news/articles/c5yxv0yj40ko