Trump imposes stiff 50% tariff on copper imports effective Aug 1
The decision, revealed on his Truth Social platform, follows a "robust NATIONAL SECURITY ASSESSMENT" and is aimed at revitalizing the American copper industry.
Trump underscored copper's critical role in a wide array of vital sectors, including the manufacturing of semiconductors, aircraft, ships, ammunition, data centers, lithium-ion batteries, radar and missile defense systems, and even hypersonic weapons. He emphasized that copper ranks as the second most-used material by the US Department of Defense.
In his characteristic style, Trump criticized past "foolish (and SLEEPY!) 'Leaders'" for what he described as the decimation of this crucial industry, specifically targeting the Biden administration's policies. He asserted that the new 50 percent tariff would reverse this "thoughtless behavior, and stupidity," leading America to "once again, build a DOMINANT Copper Industry." Trump declared, "THIS IS, AFTER ALL, OUR GOLDEN AGE!"
The announcement, initially made on Tuesday, had already sent copper prices soaring to new records in global markets, signaling immediate disruption and higher costs for industries reliant on the metal. Economists and industry experts warn that the tariff could lead to increased prices for a wide range of goods, from appliances and electric vehicles to construction materials and everyday electronics, as businesses pass on higher input costs to consumers.
While Trump aims to spur domestic production, the US currently relies on imports for a significant portion of its refined copper needs, with Chile, Canada, and Mexico being key suppliers. Experts note that it would take years for the US to ramp up domestic mining and refining capacity sufficiently to meet demand, raising concerns about potential supply chain disruptions and sustained price increases in the interim.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Roya News
5 hours ago
- Roya News
We sent $60 million in food aid to Gaza, but no one thanked us, says Trump
US President Donald Trump said on Sunday that his administration had allocated USD 60 million in aid to send food into Gaza two weeks ago, but added that 'no one thanked us.' In remarks made during a meeting with European Commission President Ursula von der Leyen, Trump said: 'We delivered USD 60 million worth of food into Gaza. It got in. No one thanked us. Not Hamas, not anyone.' Trump also downplayed the severity of the humanitarian situation in Gaza, saying: 'I don't think there's a famine in Gaza". He went on to describe the situation on the ground as chaotic and mismanaged: 'People are stealing the food, they're stealing the money, they're stealing the money for the food, they're stealing weapons, they're stealing everything. It's a mess. That whole place is a mess.' The president also reiterated his stance on "Israeli" captives held by Hamas: 'Hamas must release the hostages and detainees. We've already brought most of them back.' 'It's up to Israel now. Israel has to make a decision about Gaza.'
Al Bawaba
6 hours ago
- Al Bawaba
Cambodia–Thailand border clashes persist despite ceasefire talks
ALBAWABA- Despite U.S. President Donald Trump's announcement of a ceasefire initiative, clashes between Cambodia and Thailand continued over the weekend, escalating tensions along their shared border. The ongoing violence has left 32 dead and forced over 200,000 people to flee their homes, as international calls intensify for an end to hostilities. Both nations had expressed support for Trump's call to cease fire and enter negotiations, yet fighting resumed Saturday night and continued into Sunday, casting doubt on diplomatic efforts. At a Sunday press conference, Cambodian Prime Minister Hun Manet reaffirmed his support for the ceasefire and willingness to hold talks, but Cambodia's Defense Ministry accused Thailand of persisting with 'hostilities.' Over 80,000 people have reportedly been relocated to safer areas due to the ongoing conflict, according to ministry spokeswoman Mali Suchita. A subdistrict hospital in the northeastern border province of Si Sa Ket was struck by artillery fire from Cambodian forces engaged in clashes with Thai troops on Saturday. The damage to Ban Sum Meng Subdistrict Hospital in Kantharalak District is estimated at about 1 million… — Thai PBS World (@ThaiPBSWorld) July 27, 2025 In response, Thailand's Foreign Ministry blamed Cambodia for the renewed violence, accusing it of targeting civilians in the Surin border province. While also voicing support for the ceasefire, Thailand said it was waiting to see Cambodia's 'sincere intention' to de-escalate. The hostilities stem from a decades-long border dispute spanning the 817-kilometer boundary between the two Southeast Asian neighbors. Although a temporary truce was reached on May 28, violence reignited on July 24, sparking deadly clashes. Trump announced via TruthSocial on Saturday that he had personally spoken to the leaders of both countries and secured their agreement to launch immediate negotiations. In a significant diplomatic move, Thailand's acting Prime Minister Phumtham Wechayachai is set to meet Cambodian Prime Minister Hun Manet in Malaysia on July 28 for peace talks. The meeting, confirmed by Bangkok, will be hosted by Malaysian Prime Minister and current ASEAN chair Anwar Ibrahim.
Roya News
7 hours ago
- Roya News
Calls to boycott sports platform DAZN grow over ties to 'Israeli' leadership
A growing online campaign is calling for the boycott of DAZN, a global sports streaming service, over claims of the platform's connections to 'Israeli' political and military figures, as well as its perceived stance on the ongoing war in Gaza. Organizers of the campaign cite several reasons behind their calls, primarily centered around the company's ownership, executive leadership, and public statements by affiliated figures. Ownership and leadership concerns DAZN is owned by Access Industries, founded by British-American businessman Len Blavatnik. Critics point to Blavatnik's past financial support for 'Israeli' Prime Minister Benjamin Netanyahu and the Likud party. Attention has also been drawn to Access Industries' president Danny Cohen, who has written opinion pieces criticizing media outlets for what he calls anti-'Israel' bias. Cohen previously signed a letter urging the BBC not to air a documentary focusing on Gaza's humanitarian crisis. Military background and political views Shay Segev, DAZN's CEO, is an 'Israeli' national who served in the 'Israeli' military for four years. Campaigners have raised concerns about his background and its potential influence on the platform's neutrality. In addition, DAZN reporter Emily Austin has faced criticism for expressing strong support for the 'Israeli' military and denying the severity of Gaza's humanitarian crisis in public statements.
