U.S. PRESIDENT Donald Trump's plans to impose 50% tariffs on copper would include semi-finished products such as those used for power grids, the military and data centers, Bloomberg News reported on Thursday, citing people familiar with the matter.
Trump on Wednesday announced a new 50% tariff on copper starting August 1, in a bid to promote domestic development of an industry critical to defense, electronics and automobiles.
Reuters could not immediately verify the report. The White House did not immediately respond to a request for comment.
“Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many,“ Trump said in a Truth Social post on Wednesday.
The White House ordered a Section 232 investigation into copper imports in February, using a law that gives the president authority to impose higher tariffs based on national security grounds.
The move marks the latest in a string of sectoral tariffs Trump has placed on industries such as steel and aluminum that economists warn will drive up costs for American consumers.
