Trump’s anticipated fees increase pressure on the global copper market economy

Raised Customs The American turmoil in the global copper industry of $ 250 billion, while the sector is awaiting the proposed fees on the metal less than two weeks before its application, according to the largest copper producing company in the world.

The US President said Donald Trump This month, it will impose 50% customs duties on copper starting from the first of August, but it did not clarify whether this would be applied to repeated metal, semi -made products or copper ore, which raised questions among miners and industrial users.

The British Financial Times quoted Maximo Pacheko, President of the state -owned Codelco Company, which is a major resource for the United States, that this uncertainty is difficult to deal with.

The threat of the American industry

“Our customers feel some anxiety, and they need to understand where all this will end,” Patchico said, adding that free trade is “valuable to both parties,” and that Chile US With more copper to support local manufacturing.

Executive officials expressed their concerns about the planned customs duties on the metal, and analysts warned that they would threaten the main American industries, from electric cars to data and defense centers.

Chile has a trade agreement with the United States, and it acquires more than 60% of America’s refined copper imports.

“If the United States really wants to develop the manufacture of copper products, it is clear to us that it will need more copper cathos,” said Pacico, referring to a type of refined mineral used in the manufacture of wires and bars.

While the United States produces some copper ore, it does not have sufficient son -in -law to refine all the materials it consumes, it will be difficult to replace the repeated metal imported quickly with local production, because building mosque usually takes several years.

The risk of imposing fees comes as the copper industry is struggling globally to enhance mining supplies, in light of the decrease in crude and high costs, which makes the development of new mines costly.

For Kodelco, the United States represents 11% of cathode sales.

“We do not understand what the United States is seeking to achieve this declaration,” said Pacico.

questions

Analysts wondered whether the White House would reduce the level of copper definitions, or make exemptions that reduce their impact, and the United States has retracted many initiatives Customs tariffsWhich led to the so -called “Taco” trading in the market, which is an abbreviation of the phrase “Trump always declines trump Always Chickens Out”.

The United States may impose fees on semi -processed products such as wires, tubes and tapes, but it may allow the entry of refined copper without additional customs fees.

The director of the biomedical security program at the Center for Strategic and International Studies said in WashingtonGreeshin Baskran: “If the definitions of (copper) enter into force, the domino effect (the transmission of effect) on the final users – such as data centers and the auto sector – will be very strong.”

“Once the local industry feels the effect of customs tariffs, it is very likely to be reviewed, because it threatens the (American) growth agenda,” she added.

Numbers on the global copper market

According to a report by the island net :

• The size of the global copper market is expected to reach 362.28 billion dollars by 2032, with an annual growth rate of 5.6% during the expected period.
• Global copper production reached 23 million metric tons in 2024.
• Chile is the largest copper producer in the world, producing 23% of the total global production of 5.3 million metric tons.
• Chile is the largest exporter of copper crude in the world in 2024, with a value of $ 30.1 billion.
• China is the world’s largest importer in the world by $ 59.94 billion, according to data of the year 2023.