Submitted 8 months ago by BrikoX@lemmy.zip to globalnews@lemmy.zip
https://www.straitstimes.com/world/trump-announces-50-tariff-on-copper-effective-aug-1
It is the latest in a string of sectoral tariffs imposed by the US president.
Archived version: archive.is/…/trump-announces-50-tariff-on-copper-…
Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.
Listen, I don’t want to brag, but the shooting yourself in your own foot business is booming.
Bullets require copper though, so not for long.
Maybe now caseless ammo will have it’s time.
“Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centres, Lithium-ion Batteries, Radar Systems, Missile Defence Systems, and even, Hypersonic Weapons, of which we are building many,” Mr Trump said in a post on Truth Social.
The US depends on imports for nearly half of its refined copper needs, and brought in 810,000 metric tons in 2024, according to the US Geological Survey.
Sounds like exactly the kind of resource you should go out of your way to make more expensive and more difficult to acquire. /s
Tar_alcaran@sh.itjust.works 8 months ago
The US imports 800.000 tons of copper.
Copper costs about 8 bucks per kilo.
That’s 6.4 billion dollars, so an extra 3.1 billion for Donald’s buddies.