Does the US not need copper? 50% basically kills trade. Who will agree to pay that kind of increase?
Copper is still desperately needed by the US and can’t be replaced by something else.As usual USA makes no sense. They have little copper deposits themselves and no matter what they do, they need to import it. In fact copper is a good item to apply EXPORT tariffs to punishing the US. USA copper industry is well connected to the Trump Admin. They can now name their price.It’s so ironic that most of the Chilean copper mines are owned by a group from Oklahoma. They keep saying that imports are not that big compared to the rest of your economy but the local suppliers and manufacturers will now be able to raise their prices on anything that they are competing with from overseas. Locally sourced copper, wood products, appliances, etc. will be getting more expensive as they take advantage of the situation.