Copper pipes are displayed successful a location rebuilding store connected July 9, 2025 successful New York City.
Spencer Platt | Getty Images
President Donald Trump connected Wednesday signed connected bid imposing a cosmopolitan 50% tariff connected copper imports, the latest metallic helium has targeted with a steep import tax.
U.S. copper prices plunged arsenic overmuch arsenic 18% successful after-hours trading arsenic soon arsenic the White House announced the caller tariff rate. Copper miners Freeport-McMoRan and Southern Copper were down astir 10% and much than 6%, respectively.
The sell-off, if it holds done Thursday's trading session, volition people the metal's largest single-day diminution since 1989.
The new, higher copper tariffs spell into effect Friday, according to a fact sheet released by the White House.
Read much CNBC authorities coverage
The Trump medication says that the caller duties, which travel 50% U.S. tariffs already imposed connected alloy and aluminum, are aimed astatine boosting home industries and addressing "trade imbalances."
But experts pass that they could raise prices connected each sorts of products, ranging from operation materials to electronics, that utilize the versatile metal.
And Trump's different sector-specific tariffs and ongoing commercialized investigations, which people imported autos, lumber and pharmaceuticals, could dampen wide U.S. growth, according to the Tax Foundation.
Copper is the third-most-consumed metal, down robust and aluminum. The U.S. imports astir fractional of the copper it uses, astir of which comes from Chile, according to information from the U.S. Geological Survey.
This is breaking news. Please cheque backmost for updates.
— CNBC's Spencer Kimball contributed to this report.
English (US) ·