#Forex Haberleri

Trump issues copper directive: “Time to come back home”

President of the United States, Donald Trump, signed an executive order instructing the Department of Commerce to investigate potential tariffs on copper imports. In a signing ceremony at the White House, Trump emphasized the significant impact the copper-related executive order would have. Commerce Secretary Howard Lutnick, present at the ceremony, stated, “Our large American copper industry, just like our steel and aluminum industries, has been decimated by global actors attacking our domestic production.” Lutnick mentioned that he would explore the implementation of possible tariffs to rebuild the copper industry, stating that “Tariffs, when necessary, could assist in the rebuilding of the American copper industry and strengthen our national defense.”

“MAKE COPPER IN AMERICA”

Trump later expressed on his Truth Social account, “I have requested my Commerce Secretary and the U.S. Trade Representative (USTR) to investigate copper imports and put an end to unfair trade practices that leave Americans unemployed.” Trump emphasized that tariffs would aid in the reconstruction of the American copper industry and enhance the nation’s national defense, stating, “American industries are dependent on copper, and copper should be produced in America. No exemptions, no exceptions.” He noted that the “America First” policy has created jobs and safeguarded national security, asserting that “It’s time for copper to ‘come back home’.” Copper is the most used material in defense

A statement from the White House indicated that an investigation would be initiated to evaluate potential commercial solutions to address the national security risks stemming from the increasing reliance on imported copper of all kinds and to protect domestic industry. The statement mentioned that the investigation would identify vulnerabilities in the copper supply chain and provide recommendations to enhance the resilience of America’s domestic copper industry. It was noted that despite having extensive copper reserves, America lags behind competitors like China, which controls over 50% of the global smelting process, in smelting and refining capacities.

The statement highlighted that although America is not among the top five countries in copper smelting capacity, its dependence on copper imports has increased from nearly 0% in 1991 to 45% of consumption in 2024, posing risks to supply chain security.

Trump issues copper directive: “Time to come back home”

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