Trump Turns His Attention to Copper

The Trump administration recently imposed a 50% tariff on US imports of copper products in the hopes of reviving a declining industry. Since 1995, copper production and refining in the United States have fallen by more than half, making the country highly dependent on imports. However, these latest tariffs risk fragmenting the global market, fuelling inflation and snarling supply chains. Structural obstacles to a genuine recovery—including red tape, low deposit quality and inflated costs—haven’t been taken into consideration. Canada is largely unaffected by this tariff but could be indirectly impacted due to lower US demand. In short, this new measure is consistent with the Trump administration’s protectionist agenda, but it’s likely to have a greater short‑term impact on US consumers than on domestic production.