Trump announced a 50% tariff on copper imports starting August 1

US President Donald Trump announced on Wednesday evening that a 50% copper tariff would be introduced, effective August 1. The White House chief said he made the decision after a "decisive national security assessment," UNN reports with reference to Newsweek.

Details

This week, Trump made a series of tariff-related announcements, reiterating his previous threats to countries, both US allies and rivals, accusing them of treating America unfairly.

On Wednesday, he said the US would impose a 50% tariff on Brazilian imports. Trump cited the US trade deficit as one reason, although as of last year, the US had a $7.4 billion surplus in goods trade with Brazil.

In his tariff announcement, Trump also mentioned former Brazilian President Jair Bolsonaro, suggesting that his decision to impose tariffs was partly based on his personal relationship with Bolsonaro.

This week, Trump also sent letters to leaders of at least 22 countries, threatening to impose a 50% tariff on their exports if they did not negotiate more favorable trade deals with the US.

Copper is essential for semiconductors, aircraft, ships, ammunition, data centers, lithium-ion batteries, radar systems, missile defense systems, and even hypersonic weapons, many of which we are building

Traditionally, Trump blamed his predecessor Joe Biden and his administration for the decline of the American copper industry.

Copper is the second most popular material used by the Department of Defense! Why did our stupid (and sleepy!) "leaders" destroy this important industry? This 50% TARIFF will change the mindless behavior and stupidity of the Biden administration. America will once again build a dominant copper industry. This is ultimately our golden age

Trump's statement on Wednesday came after he said at a televised Cabinet meeting on Tuesday that a new copper tariff was imminent, although the timing of its introduction was unclear.

For reference

Copper is the third most consumed metal after iron and aluminum. According to the Department of Commerce, the US imported $17 billion worth of copper last year. In February, Trump announced an investigation into copper under Section 232, citing a law that allows the president to set higher tariffs for national security reasons.

Addition

Trump announced the introduction of tariffs on imports from the Philippines, Brunei, Moldova, Algeria, Libya, and Iraq starting August 1. Tariff rates range from 20% to 30% depending on the country.