According to Lianhe Zaobao, Trump revealed the higher-than-expected tariff in a comment to reporters on Tuesday (July 8) in the United States, and confirmed the tariff date on the social media platform "Truth Social" on Wednesday night. He blamed the decline in the influence of the US copper industry on previous governments. US President Trump announced that the 50% tariff on imported copper will be implemented from August 1, which will hit US producers in various industries such as automobiles and home appliances. "The 50% tariff will reverse the reckless behavior and stupid decisions of the Biden administration," Trump said. "The United States will once again establish a dominant copper industry."

This latest statement still does not give some key details that metal traders are concerned about, including how the tariffs will be initially implemented, what products will be covered, and whether certain suppliers will be exempted. This is one of a series of tariff measures by Trump aimed at promoting domestic mining and metal processing. Trump has previously raised import tariffs on steel and aluminum and said he is studying tariffs on more industries. In addition, the White House is finalizing tariffs one by one with dozens of its largest trading partners, which will also take effect on August 1.Trump emphasized on social media that copper, as the second most important metal for US defense, is directly related to the production of strategic materials such as ammunition. However, the current US copper demand is highly dependent on imports (mainly from Chile, Canada and Mexico). In order to avoid the 50% tariff that will take effect on August 1, global traders are rushing to evade it. Transshipping copper to ports near the United States such as Hawaii and Puerto Rico shortens the voyage; since the announcement of the tariff proposal in February, copper exports to the United States have reached a historical peak, striving to earn tariff price difference dividends in the last window period.On July 8, Trump announced a 50% tariff on imported copper (effective on August 1), aiming to revive the dominance of the US copper industry and blaming the previous government for "weakening domestic production capacity." This move will directly impact the cost of the US automotive, home appliance and other manufacturing industries, but the key details are not clear; global traders use Hawaii, Puerto Rico and other ports near the US to shorten the voyage, and the copper exports to the US have reached a historical peak since February; in response to the high-frequency changes in global tariff policies,Hanyue International recommends that cargo owners contact customer service if they need help. Our company provides full assistance and full solution escort to help you make accurate decisions in the changing situation, maximize the avoidance of cost losses and operational risks, and defend the competitiveness of the supply chain.