Banca March | On Wednesday, the US president signed an order instructing the Department of Commerce to carry out an investigation under Section 232. This same mechanism was used in 2017 to establish tariffs on steel and aluminium after a year-long analysis and, therefore, it could require a similar period in this case. Secretary of Commerce Howard Lutnick said the action will also look at products containing copper and stressed that the tariffs will help rebuild the domestic industry for this material. The White House publication defends the need to reduce the risks of increasing dependency: in 1991 imported copper did not represent a significant portion of US demand, while in 2024 45% of copper consumed in the US came from abroad. The main suppliers of this metal to the USA are Chile (35.9% of total US copper imports) and Canada (23.3%). Copper is a critical element in strategic sectors such as defence, infrastructure and the emerging electric vehicle industry.
Trump initiates procedure for possible imposition of tariffs on copper
