The Trump administration has paused the introduction of new tariffs on refined copper. This decision aims to avoid further cost increases in housing construction and the development of AI infrastructure, which rely heavily on this metal.
Currently, the United States imports approximately 50% of its annual copper supply and maintains only two domestic smelters. Since August 1, 2025, Section 232 tariffs of 50% have applied to various semi-finished copper products, with adjustments implemented in April 2026.
Proposed plans for refined copper included a phased tariff schedule starting at 15% in January 2027 and rising to 30% by 2028. However, no final decision has been reached. Commerce Secretary Howard Lutnick missed the June 30, 2026, deadline for submitting recommendations.
S&P Global forecasts that global copper demand will rise by 50% by 2040. This growth is attributed to the expansion of AI, electrification, and defense sectors. Builders continue to face high costs for materials like steel, aluminum, and lumber due to previous trade policies.
