US industries bracing for copper tariffs

Proposed 50% levies to raise price paid by construction sites, factories: Experts

US businesses could soon see a rise in the price of copper sourced from countries, including China, experts warned, as imports into the United States face a 50 percent tariff beginning Aug 1.

The US produces just over half of all the copper it uses. Most of the rest is imported from three countries — Chile, Canada and Peru — which made up 90 percent of all copper imports into the US last year. Meanwhile, China is among the major producers in the global market, but is not a major direct supplier of refined copper to the US.

An economist warned that the proposed tariff hike will likely raise the price paid by construction sites, power grids and factories as it is essential for electric vehicles, house building, data centers, consumer goods and more.