WASHINGTON: United States President Donald Trump introduced on Wednesday (Jul 9) a 50 per cent tariff on copper, saying on social media that it will be efficient on Aug 1 and that the choice was made after a nationwide safety evaluation.
“Copper is critical for Semiconductors, Plane, Ships, Ammunition, Knowledge Facilities, Lithium-ion Batteries, Radar Methods, Missile Protection Methods, and even, Hypersonic Weapons, of which we’re constructing many,” Trump mentioned in a put up on Reality Social.
Trump signalled on Tuesday that he was imposing recent tariffs on copper, sending US Comex copper futures to document highs.
He additionally released a new set of letters to trading partners on Wednesday, outlining tariff charges for six nations as Washington seeks to finalise a flurry of commerce offers.
The letters, addressed to leaders of the Philippines, Brunei, Algeria, Libya, Iraq and Moldova, spelt out duties starting from 20 per cent to 30 per cent that may take effect on Aug 1.
