"I am announcing a 50% TARIFF on copper, effective August 1 2025,” Trump posted on his Truth Social platform. He claimed that the measure comes after a “strong NATIONAL SECURITY ASSESSMENT.” He evoked the United States’ needs to build semiconductors, airplanes, ships, ammunition, data centers, and missile defense systems, among other developments where the metal is indispensable. “Copper is the second most used material by the Department of Defense!” the president added. In the name of balancing trade relations, Trump imposed a minimum tariff of 10% on imports in April, even if they cannot be produced domestically, albeit with some exemptions, notably for gold, copper, oil, and medicines. On Tuesday, he backtracked on these exceptions and, in addition to copper, considered a 200% tax on pharmaceutical products. His threat to impose a 50% tax on copper caused the price of the metal to soar by almost 10% on the New York Stock Exchange on Tuesday, surpassing its all-time high.

Traders fear that if these tariffs go into effect, prices for products made with that metal (refrigerators, cars, etc.) will rise.

This Wednesday, the US president also threatened Brazil with 50% tariffs to defend the far-right former president Jair Bolsonaro, his political ally, a decision that has exacerbated the confrontation between the Republican magnate and the current president Luiz Inacio Lula da Silva.