President Donald Trump agitated critics Wednesday night as he announced even more tariffs — this time on a metal of vital importance to the United States.
Trump posted on his Truth Social platform that he was "announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT."
Trump noted the metal is vital 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."
"Copper is the second most used material by the Department of Defense!" he declared, before taking a shot at his predecessor. "Why did our foolish (and SLEEPY!) 'Leaders' decimate this important Industry? This 50% TARIFF will reverse the Biden Administration’s thoughtless behavior, and stupidity. America will, once again, build a DOMINANT Copper Industry. THIS IS, AFTER ALL, OUR GOLDEN AGE!"
Last year, the United States produced about 850,000 tons of refined copper and imported about 810,000 tons, according to the U.S. Geological Survey.
Wall Street and economics experts quickly bemoaned the action on social media.
"Rest in peace if you were planning to build/renovate a home in 2025-2028," warned Spencer Hakimian, Founder of Tolou Capital Management, on X.
Tracey Ryniec, value stock strategist at Zacks, added, "I don't understand the goal here. You only have a copper 'industry' if you have copper in the ground. US has a lot in Arizona. It mines it. But it's not enough. Even a 200% tariff isn't going to change the reality of where we get our commodities."
Anthony M. Hopper, a college instructor and author, jabbed Trump on X, writing: "He'll TACO. He always does."
Scott Lincicome, vice president, General Economics and Stiefel Trade Policy Center at the Cato Institute, joked, "'confirming a move that will batter [AMERICAN] producers of everything from automobiles to homes and appliances who rely on the industrial metal.'"
Ed Carson, news editor at Investor's Business Daily, warned, "All these advanced manufactured goods using copper are reasons to have zero tariffs on the metal - even if you are pro tariff. Tariffs on raw materials like copper as well as steel and other lower-end inputs discourages & raises cost of domestic manufacturing."
Meanwhile, financial writer and journalist A.J. Button chided on X, "'The Department of Defense uses a lot of copper, so I'm gonna force them to pay more for it!'"
And Steve Burns, trader and founder of New Trader University, mocked Trump, writing: "Trump says 50% tariff on copper will begin Aug. 1: CNBC I didn’t know we had a trade deficit with copper."
