"Trump to Impose 50% Tariff on Copper Next Month, Including Refined Copper and Semi-Finished Products"

Widespread Impact on Industry

Refined Copper, the Largest Portion of U.S. Copper Imports

It appears that starting from the 1st of next month, the 50% tariff to be implemented in the United States will also apply to refined copper. Copper is an essential material for a variety of industries, including power grids, construction, automobile manufacturing, and home appliances. The imposition of tariffs is expected to have a broad impact.

Bloomberg News reported on the 11th (local time), quoting sources, that U.S. President Donald Trump is planning to include refined copper in the 50% tariff he announced for copper. Refined copper accounts for the largest share among the copper that the United States imports. It is also reported that the U.S. will apply the 50% tariff on semi-finished industrial products made from processed copper. However, a White House official stated that the tariff measures on refined copper and other items will not be finalized until President Trump officially announces them.

Previously, President Trump stated on the 8th that he would impose a 50% tariff on copper to revive the U.S. copper industry. On social media, he said, "Copper is needed for semiconductors, aircraft, ships, ammunition, data centers, lithium-ion batteries, radar systems, missile defense systems, and even the hypersonic weapons we are manufacturing in large quantities. Copper is the second most used material by the Department of Defense," he wrote.

The Trump administration based its justification for the 50% tariff on copper on 'Section 232 of the Trade Expansion Act,' which grants the president authority to restrict the import of items that negatively affect national security.

Hye-won Ahn, Hankyung.com Reporter anhw@hankyung.com