(Reuters) -U.S. President Donald Trump’s plans to impose 50% tariffs on copper would include semi-finished products such as those used for power grids, the military and data centers, Bloomberg News reported on Thursday, citing people familiar with the matter. Trump on Wednesday announced a new 50% tariff on copper starting August 1, in a bid […]
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Trump’s copper tariffs plan to include semi-finished products, Bloomberg News reports
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(Reuters) -U.S. President Donald Trump’s plans to impose 50% tariffs on copper would include semi-finished products such as those used for power grids, the military and data centers, Bloomberg News reported on Thursday, citing people familiar with the matter.
Trump on Wednesday announced a new 50% tariff on copper starting August 1, in a bid to promote domestic development of an industry critical to defense, electronics and automobiles.
Reuters could not immediately verify the report. The White House did not immediately respond to a request for comment.
“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,” Trump said in a Truth Social post on Wednesday.
The White House ordered a Section 232 investigation into copper imports in February, using a law that gives the president authority to impose higher tariffs based on national security grounds.
The move marks the latest in a string of sectoral tariffs Trump has placed on industries such as steel and aluminum that economists warn will drive up costs for American consumers.
(Reporting by Rhea Rose Abraham in Bengaluru; Editing by Saad Sayeed)