Trump's 50% copper import tariff said to include refined metal

US President Donald Trump's promised 50% copper tariffs are said to include all refined metal, Bloomberg reported on Friday. The move reflects the president's broader efforts to boost domestic production of one of the world's most widely used commodities.

Trump announced that these tariffs would take effect on August 1, without elaborating on the precise content of the decision. However, it was said that copper would be among the items affected by the new tariffs.

Refined copper constitutes the largest portion of US imports of the metal, making its inclusion in the tariff list a decision with far-reaching implications. Copper is a vital component in power grids, construction sector, automotive industry, and consumer electronics.

Semi-finished products will also be subject to these tariffs, Bloomberg previously said.

Trump's tariffs disrupt supply chains

New tariff measures have not yet been formally ratified and cannot be considered final until Trump announces them, according to a White House official.

Just hours after Trump's surprise announcement on Tuesday of a 50% tariff on copper, the White House Council of Economic Advisers met with industry representatives, who urged the president not to impose restrictions on copper scrap exports, according to people familiar with the matter.

The US is one of the world's largest producers of scrap metal, with annual production exceeding domestic consumption, resulting in the surplus being exported to foreign markets.

Major metals companies, including mining company Rio Tinto Group, manufacturing company Southwire, and Trafigura Group, have urged the White House to restrict exports of raw and scrap metal rather than impose import tariffs.