U.S. President Donald Trump said on Tuesday he is imposing a 50% tariff on all copper imports, marking the latest in a series of sweeping trade measures during his second term.
The timeline for implementation is not yet clear.
“Today we’re doing copper,” Trump said during a Cabinet meeting, adding he expects the rate to be 50%.
This follows earlier across-the-board tariffs on cars (25%), steel, and aluminium (both 50%), under Section 232 national security grounds. The U.S. imported $17 billion in copper last year, with Chile as the largest supplier.
Copper futures surged 15% in New York following the announcement, reaching a record $5.68 per pound. Analysts warned the new tariff will likely raise costs for American manufacturers and consumers.
Separately, Trump said 200% tariffs on pharmaceutical imports are also on the way, though they may be delayed to give companies time to shift production to the U.S. The administration launched an investigation into drug imports in April.
Trump argues the U.S. must reduce reliance on foreign medicine suppliers, a policy shift from his first term when pharmaceuticals were exempt from tariffs.
International oil prices rose sharply on Wednesday after U.S. President Donald Trump ordered a “total and complete blockade” of all U.S.-sanctione...
As Türkiye seeks to play a more active diplomatic role in the South Caucasus, President Recep Tayyip Erdoğan's “symbolic steps” in the region ar...
A rare pair of bright-green Nike “Grinch” sneakers worn and signed by the late NBA legend Kobe Bryant have gone on public display in Beverly Hills...
Petroleum products are being transported by rail from Azerbaijan to Armenia for the first time in decades. The move is hailed as a tangible breakthrou...
Ukrainian President Volodymyr Zelenskyy is calling on European Union leaders at a summit in Brussels to approve the use of billions of euros from froz...
As Türkiye seeks to play a more active diplomatic role in the South Caucasus, President Recep Tayyip Erdoğan's “symbolic steps” in the region are becoming a point of focus.
A rare pair of bright-green Nike “Grinch” sneakers worn and signed by the late NBA legend Kobe Bryant have gone on public display in Beverly Hills, ahead of an auction that could set a new record for sports memorabilia.
Ukrainian President Volodymyr Zelenskyy is calling on European Union leaders at a summit in Brussels to approve the use of billions of euros from frozen Russian assets to support Ukraine’s military and economic needs.
Australia has been plunged into mourning following the deadly shooting at a Jewish holiday gathering on Sydney’s Bondi Beach, with the funeral of 10-year-old Matilda marking a deeply emotional moment for the nation.
Cambodia must be the first to declare a ceasefire in the ongoing border conflict, Thailand said on Tuesday (16 December), as fighting continued despite earlier claims that hostilities would stop and at least 52 people have been killed on both sides.
The latest clashes between Thailand and Cambodia mark a dangerous escalation in one of Southeast Asia’s oldest and most sensitive disputes.
In the complex world of international diplomacy, the ongoing tensions between India and Pakistan have raised significant questions about the role of third-party mediation.
President of the Republic of Azerbaijan Ilham Aliyev is visiting the United Arab Emirates at the invitation of President Sheikh Mohamed bin Zayed Al Nahyan on Wednesday, 17 December, as the two countries seek to further strengthen their partnership.
Citizens from an additional seven countries, including Syria, are being banned from travelling to the U.S. from the 1st of January next year. President Donald Trump made the annoucement on Tuesday (16 December) now has a total of 39 countries banned from entering the States.
International oil prices rose sharply on Wednesday after U.S. President Donald Trump ordered a “total and complete blockade” of all U.S.-sanctioned oil tankers entering and leaving Venezuela.
Ukrainian President Volodymyr Zelenskyy is calling on European Union leaders at a summit in Brussels to approve the use of billions of euros from frozen Russian assets to support Ukraine’s military and economic needs.
Brazil’s Senate has approved a bill that could sharply reduce the prison sentence of former president Jair Bolsonaro, a move that is expected to face strong opposition from President Luiz Inácio Lula da Silva and the Supreme Court.
Prime Minister Benjamin Netanyahu has greenlit a landmark energy agreement that will see Israel export natural gas valued at approximately $35 billion to Egypt.
A sweeping $901 billion defence policy bill has been approved by the U.S. Senate on Wednesday, clearing the way for President Donald Trump to sign it into law.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment