Where Data Tells the Story
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President Trump announced plans on Tuesday to introduce a 50% tariff on copper imports in a bid to boost national production of the metal, sending US copper prices up 13% to an all-time high of ~$5.69 per pound, per the Financial Times.
Though timelines remain unclear, now that import taxes for the red metal are set to match the 50% tariffs on steel and aluminum, the world’s top copper-producing countries will be looking to strike trade deals that could minimize the effect on their copper exports.
While the usual economic heavy hitters wait for details, one nation in particular will be watching closely: Chile, the world’s biggest copper producer, which dug out 5.3 million tons of the stuff last year — nearly 5x as much as the US, according to data from the US Geological Survey.
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