Chile will ask US to include copper within US-Chile trade deal

Audio By Carbonatix

Enlarge

(Corrects paragraph four to show Chile’s talks with USTR are in the second round, not third)

SANTIAGO (Reuters) -Chile expects U.S. copper tariffs to be discussed within broader U.S. trade talks in Washington this week, Finance Minister Mario Marcel said on Monday in an interview with local radio program Duna.

Marcel added that Chile would ask for any tariffs to be included within a broader trade agreement with the United States. President Trump’s administration has said it will impose 50% tariffs on copper imports as of August 1.

Chile is the world’s top supplier of the red metal and is also the biggest provider of refined copper to the U.S., although it sends much higher volumes to China.

Monday marks the start of a second round of talks between Chilean officials and the office of the U.S. Trade Representative.

“What we hope is that these conversations we’re starting today in Washington will also cover the issue of copper,” Marcel said. “Because it wouldn’t be very useful for us to have a trade agreement that excludes more than half of our exports to the U.S., such as copper and wood.”

When asked if Chile would seek an exemption to the U.S. copper tariffs imposed by Trump, the minister said they would seek for any tariffs to be included in a broader trade pact.

“We want it to be part of the agreement, within the broader commercial discussions with Chile — not something handled separately — because it’s a very central issue,” the minister said.

Marcel noted that other countries have included exemptions and carve-outs in their trade agreements.

(Reporting by Fabian Cambero. Writing by Daina Beth Solomon; Editing by Natalia Siniawski)