President Donald Trump opened yet another front on Tuesday in his assault on global trade norms, ordering a probe into potential new tariffs on copper imports to rebuild U.S. production of a metal critical to electric vehicles,
2don MSN
"American industries depend on copper, and it should be made in America, no exemptions, no exceptions," Commerce Secretary Howard Lutnick said.
Another industrial metal is in the spotlight, once again due to President Trump. Copper prices are rallying after Trump instructed the Commerce Department to investigate imposing tariffs on imports of the metal.
US President Donald Trump has ordered an investigation of copper imports in what is a first step toward potential tariffs on the metal. Administration officials said the White House wanted to find ways to boost US production of copper,
The White House suggested Tuesday there is a strong case for copper import protections because the metal is an essential component of military hardware.
Tariffs, if they are imposed, could boost U.S. production of a valuable resource but also raise costs for automakers, construction companies and others.
The U.S. mined about 1.1 million tons of copper in 2024, which is less than the demand in a year. Some of that copper is refined overseas.
An executive order calls for boosting the domestic industry by investigating the national security implications of imports and weighing tariffs.
China's growing copper reserves have caught the eye of President Donald Trump, who on Tuesday ordered an investigation into what administration officials say is Beijing's move to "gain control of the world's copper markets.
On Feb. 25, the White House announced it will launch an investigation into the importation of copper under Section 232 of the 1962 Trade Expansion Act.
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