“Today, we are copper,” Trump said in a cabinet meeting. “I am confident that tariff on copper, we are going to make it 50 percent.”
Commercial secretary Howard Lutenic After the meeting, CNBC told that the tariff on copper is ready to be effective by August and its purpose is to increase production in the US, stating that Trump will give more details on social media.
“So copper will be 50 percent and this idea is to bring copper home, bring home production home. Bring the ability to make copper, which is important for the industrial sector, back home to the US.
He said, “Therefore it will be out today, you will see that the President will see the truth about it this afternoon. We will sign a proclamation as it goes through a simple legal process within a day or two. It will come out, but then the copper will be set, possibly put in late July, maybe 1 August.”
After the announcement of the plan to levy tariff on metal, Jumping more as copper futures 17 percentBloomberg reported.
Lutnik said in March that Trump planned to present a tariff standing on copper imports, as he directed the cabinet authorities earlier this year to check the country’s ability to rely on their domestic supply chain.
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