The decision was made after he received a national security assessment, Trump said in a post on Truth Social<\/a>.<\/p>\n “I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT,” Trump wrote.<\/p>\n “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.”<\/p>\n Copper<\/a>\u00a0prices rose 2.62%, following Trump’s latest announcement, extending its gains from the previous session when it jumped 13.12% and recorded its best one-day gain since 1989.<\/p>\n Stock Chart IconStock chart icon U.S. copper prices spiked on Trump’s 50% tariff announcement<\/p>\n Meanwhile, the three-month benchmark copper futures on the London Metal Exchange was down 1.63% at $9630.50 a ton as of 9.20 a.m. Singapore time, a reflection of the unusually wide premium that’s developing between U.S. copper and the metal elsewhere.<\/p>\n According to London-based agency Benchmark Mineral Intelligence, U.S. consumers could be paying around $15,000 per metric ton for copper<\/a>, while the rest of the world pays around $10,000 by August.<\/p>\n Copper is the third-most-consumed metal globally, behind iron and aluminum. The U.S. imports nearly half of the copper it uses, with most of it coming from Chile, according to data from the\u00a0U.S. Geological Survey<\/a>.<\/p>\n Earlier on Tuesday, U.S. Commerce Secretary Howard Lutnick told CNBC’s “Power Lunch<\/a>”\u00a0that the Trump administration wants to bring “copper production home.” He noted that Trump’s move will bring copper tariffs in line with U.S. duties on imports of\u00a0steel and aluminum<\/a>, which Trump\u00a0doubled to 50%<\/a>\u00a0in early June.<\/p>\n However, experts say that this will take a while before production ramps up, and possibly decades to fulfill demand<\/a>.<\/p>\n The U.S. reliance on copper imports is a “vulnerability, but [the U.S. doesn’t] have the capacity right now to offset imports,” Carlos\u202fMiguel\u202fGutierrez, who served under President George W. Bush as Secretary of Commerce, told CNBC’s Emily Tan on “The China Connection<\/a>.”<\/p>\n “Perhaps capacity will be online in 2027 and 2028, assuming that there’s a guarantee that those tariffs will stay in place.”<\/p>\n Meanwhile, there will be some shortage of copper in the U.S., and price increases as companies start to invest in production capacity, said Gutierrez.<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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