Washington - Saba:
US President Donald Trump announced on Wednesday that the United States will impose a 50% tariff on copper imports, effective August 1, 2025, to strengthen US national security.
In a post on the Truth Social platform, Trump said: "I am announcing a 50% tariff on copper, effective August 1, 2025, after receiving a strong national security assessment. Copper is essential for semiconductors, aircraft, ships, munitions, data centers, lithium batteries, radar systems, missile defense systems, and even hypersonic weapons, many of which we are building. Copper is the second most used material by the Department of Defense."
He added: "Why did our foolish (and sleepy!) leaders destroy this critical industry? These 50% tariffs will correct the reckless and stupid actions of the Biden administration."
On Monday, Trump extended the suspension of high tariffs on imported goods until August 1, but notified several countries that the new rates would apply from that date.
On April 2, US President Donald Trump signed an executive order imposing "reciprocal" tariffs on imports from countries with which the United States has a trade deficit.
The base rate of the tariffs was 10%, and additional increases were applied to imports from 57 countries starting April 9, based on the size of the trade deficit with each country, in an effort to achieve trade balance rather than perpetuate a deficit.
For the European Union, the new tariff rate was set at 20%, but these measures were quickly suspended while trade negotiations between the two sides continue.
Washington and Brussels are seeking to reach a comprehensive trade agreement by July 9, in an attempt to avoid escalating trade disputes and achieve progress in economic relations between the two sides.
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