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50% tariffs to hit Canadian copper imports to the U.S.
U.S. President Donald Trump on Wednesday signed a proclamation ordering 50 per cent tariffs on certain copper imports, citing national security, the White House said.
The proclamation imposes a 50 per cent tariff on semi-finished copper products and copper-intensive derivative products as of August 1, according to a fact sheet released by the White House.
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The tariffs will exclude copper scrap and copper input materials such as copper ores, concentrates, mattes, cathodes, and anodes, the statement said.
The measure came after a U.S. investigation under Section 232, which U.S. President Donald Trump ordered in February.
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Along with tariffs, the order calls for steps to support the domestic copper industry, including requiring 25 per cent of high-quality scrap produced in the U.S. to also be sold within the country.
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—Reporting by Ismail Shakil in Ottawa; Writing by Ryan Patrick Jones in Toronto; editing by Susan Heavey and Marguerita Choy