President Donald Trump has again stepped into the non-ferrous markets by ordering a probe into possible new tariffs on copper imports to the USA.
The move is seen as part of an attempt to rebuild US production of the red metal which is fundamental to core sectors such as defence, vehicles and retail. It follows recent pronouncements of 25% tariffs on imported steel and aluminium.
Security
According to Reuters, Trump signed an order at the White House directing Commerce Secretary Howard Lutnick to start a national security probe under Section 232 of the Trade Expansion Act of 1962. It is the same law Trump used in his first term to impose 25% global tariffs on steel and aluminium.
‘A White House official, briefing reporters on condition of anonymity, said any potential tariff rate would be determined by the investigation, adding that Trump preferred tariffs over quotas,’ Reuters reported.
Scrap included
The scope of the investigation includes mined copper and concentrates, refined copper, alloys, derivative products and scrap.
The Commerce Department has a 270-day statutory deadline to complete the investigation, although it can provide its report and recommendations to the President earlier than that.
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