 "Trump imposes 50% tariff on copper imports citing national security")
US President Donald Trump has signed a proclamation imposing a 50% tariff on a range of copper imports, the White House said Wednesday, framing the move as necessary to protect national security.
The new duties set to take effect from August 1, will apply to semi-finished copper goods and copper-based products that are heavily used in manufacturing. However, the order exempts raw materials such as copper ores, concentrates, cathodes, anodes, and scrap.
The decision follows a national security review launched in February under Section 232 of US trade law. In addition to tariffs, the measure mandates that a quarter of all high-grade copper scrap produced domestically be sold within the United States to bolster local industry.
Along with tariffs, the order calls for steps to support the domestic copper industry, including requiring 25% of high-quality scrap produced in the US to also be sold within the country.
With inputs from agencies