Trump imposes 50% tariffs on copper starting August 1

U.S. President Donald Trump signed an executive order on Wednesday imposing global tariffs of 50% on copper imports. This measure will take effect on August 1, although copper cathodes exported by countries like Chile would be exempt.

According to the document distributed by the White House, the U.S. government believes that high volumes of copper imports and global overcapacity pose a threat to national security by weakening the domestic industry.

The Trump administration is denouncing alleged unfair practices by foreign competitors, including government subsidies, global copper overproduction, and lax environmental regulations in other countries.

The order establishes a universal 50% tariff on imports of copper products and their derivatives, a measure that will coincide with the end of the current tariff truce and mark the beginning of a new phase of levies.

Basic copper inputs, such as ores, concentrates, cathodes, anodes, and scrap, will not be subject to these tariffs, although they will be subject to special controls, given that at least 25% of these materials must be produced in the United States.

The government also plans to introduce additional tariff increases on refined copper in later phases.

Chile, the world's largest copper producer, exported approximately $5.6 billion of copper to the United States in 2024, representing 11.1% of total Chilean shipments, according to official figures.

Most of the shipments to the United States are refined cathodes and cathode sections, which would be exempt from the duties.

The United States has announced the implementation of an additional 40% tariff on products originating in Brazil, bringing the total tariff to 50%, to "address the recent policies" of Luiz Inácio Lula da Silva's administration, particularly the "politically motivated" prosecution of former Brazilian President Jair Bolsonaro.

The decision is a response to Brazilian government policies that, the White House argued in a statement, constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States.

The executive order signed by US President Donald Trump also declares a new national emergency to implement the tariff, citing the harm caused to US businesses, the freedom of expression rights of Americans, and the US economy by Brazil's actions.

Regarding Bolsonaro's trial, the White House considers the Brazilian government's "persecution, intimidation, harassment, censorship, and politically motivated prosecution" of former Brazilian President Jair Bolsonaro and thousands of his supporters "to be serious human rights abuses that have undermined the rule of law in Brazil."