President Trump signed an executive order directing a trade investigation into foreign copper imports, citing economic and national security risks. The inquiry could lead to tariffs aimed at safeguarding the domestic copper industry, vital for manufacturing, military applications, and emerging technologies like AI. While the administration emphasizes the need for domestic copper production, potential tariffs may lead to increased costs for related industries, including automotive and electronics. The timeline and specifics of the investigation remain uncertain, but officials indicate prompt action is anticipated to bolster national defense and industry stability.
'Tariffs can help build back our American copper industry, if necessary, and strengthen our national defense,' Mr. Lutnick said. 'American industries depend on copper, and it should be made in America, no exemptions, no exceptions.'
The Trump administration framed it on Tuesday as an issue of national defense as much as an economic one, saying the metals would be needed for electric vehicles and A.I.'
White House officials said that, depending on the results of the investigation, new tariffs could be applied on foreign copper, which is widely used in manufacturing and construction.
The potential tariffs would help to protect the domestic copper industry that the White House says has been undermined by unfair trade practices by other countries, and is struggling to compete.
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