WASHINGTON: United States President Donald Trump announced on Wednesday (Jul 9) a 50 per cent tariff on copper, saying on social media that it would be effective on Aug 1 and that the decision was made after a national security assessment.
“Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many,” Trump said in a post on Truth Social.
Trump signalled on Tuesday that he was imposing fresh tariffs on copper, sending US Comex copper futures to record highs.
He also released a new set of letters to trading partners on Wednesday, outlining tariff rates for six countries as Washington seeks to finalise a flurry of trade deals.
The letters, addressed to leaders of the Philippines, Brunei, Algeria, Libya, Iraq and Moldova, spelt out duties ranging from 20 per cent to 30 per cent that would take effect on Aug 1.
Source: CNA
