Bloomberg reported on July 12 that, according to informed sources at the White House, although former President Trump announced tariffs on imported copper without detailing specific content, it is confirmed that refined copper will be included in the tariff scope.

On July 10 local time, US President Trump posted on the "Truth Social" platform announcing that a 50% tariff would be imposed on all imported copper starting August 1.

"Truth Social"

Informed sources pointed out that refined copper dominates the import of copper in the United States, and is widely used in multiple key areas such as power grid infrastructure, construction, automotive manufacturing, and consumer electronics. They added that semi-finished copper products will also be included in the tariff list.

However, this tariff plan has not been finalized yet and may still change. Another White House official said that the measure will only have legal effect after President Trump formally signs the executive announcement.

The informed source revealed that just hours after Trump announced the tariff policy, the White House National Economic Council met with metal industry lobbying groups, including Rio Tinto, a major mining company in the United States, Southwire, a US cable manufacturer, and Trafigura, a US commodity trader.

These industry representatives jointly urged the president to prioritize restricting the export of raw ore and scrap metals, especially avoiding restrictions on the export of copper scrap, rather than imposing high tariffs on imported refined copper. They pointed out that the United States is one of the world's largest producers of metal scrap, with annual production far exceeding domestic demand, and the remaining part is absorbed through exports.

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