Commerce Secretary Howard Lutnick said President Trump plans to introduce steep tariffs on copper imports after he directed Cabinet officials to investigate the country’s ability to rely on its domestic supply chain for the metal instead of foreign trade partners.
“The president wants steel and aluminum in America. And let me be clear, nothing’s going to stop that until we’ve got a big, strong domestic steel and aluminum capability,” Lutnick said during a Wednesday appearance on Fox Business Networks’ “Varney & Co.”
“And, by the way, he’s going to add copper to that mix too,” he continued.
No date was given for the levies but the president is expected to announce a new round of reciprocal tariffs on April 2.
China currently dominates global copper smelting and refining, controlling over 50 percent of global smelting capacity and holding four of the top five largest refining facilities.
Canada and Peru are some of the largest U.S. suppliers of refined copper, only outpaced by Chile, which remains the world’s largest copper miner.
Lutnick has said Trump’s new policies will come as a blow to foreign nations for the good of the American economy.
Posted by John3262005
13 Comments
#EA NASIR BROS WE’RE SO FUCKIN BAAAAACK
We must secure our sources of copper, lest the perfidious maple-drinkers bankrupt our merchants! eu4 aahhhhh policies
This is good for crackheads
“Sir we need to bring the price of housing down!”
“I have just the plan… We deport a sizable chunk of construction workers. And put tariffs on steel, aluminum, copper, and wood.”
“Wow sir… You are a genius. I can’t believe we never thought of that.”
US going to be mining copper from abandonned and not so abandonned buildings before anyone puts forward capital for a mine in this uncertain economy. Which is fitting, because robbing copper from buildings is a great metaphor for what the Trump admin as a whole is doing to America.
This is why the stock market needs to crash harder and faster so he stops getting all these wise ideas.
Why are Republicans so fucking obsessed with raw material extraction and processing jobs?
Bro, stop.
God this moron is just speed running a home building collapse isn’t he.
Meth heads cheering
https://preview.redd.it/nd4ps40f4boe1.jpeg?width=619&format=pjpg&auto=webp&s=0c27fcbd4c71adfea90ca1f9c237df8cbef0d4ff
How is this a serious idea? The US doesn’t have significant untapped copper resources. And considering it takes 5+ years to build a new mine, this won’t bring new American supply and will essentially be a tax on copper. And it will stifle industries of the future that heavily use copper like EVs, batteries, renewable power, and electrical infrastructure.
Time to hide your coffee machines cause the thieves are gonna break into your house to steal the copper boilers at this rate