President Donald Trump stated that the 50% tariff on copper, which will be imposed starting August 1 (local time), is expected to also apply to refined copper and copper processed semi-finished products.
According to Bloomberg News on the 11th (local time), sources reported that President Trump plans to include refined copper in the 50% copper tariff. Refined copper is the largest item among the copper imported by the United States. It has also been reported that the 50% tariff will apply to semi-finished products, which are industrial intermediate goods made from processed copper.
Copper is an essential material used extensively in various industries, such as power grids, construction, automobile manufacturing, and home appliances. The imposition of the tariff starting next month is expected to have widespread impacts across all industries.
However, a White House official stated that it has not been confirmed whether tariffs will apply to refined copper and semi-finished products until President Trump makes a final announcement. Earlier, on the 8th, President Trump announced plans to impose a 50% tariff on copper to revitalize the U.S. copper industry.
The 'Trade Expansion Act Section 232' is the basis the Trump administration used to impose a 50% tariff on copper. This provision grants the president the authority to restrict imports of items that negatively affect national security.