Trump says that the United States will raise the definitions of copper to 50 %

President Donald Trump said that the copper enters the United States from other countries is to face a new tax of 50 %.

The decision continues to threaten the tariffs taken by the president earlier this year, when he ordered an investigation of how the metal imports affect national security.

Similar investigations on the other sectors, including pharmaceutical preparations, are looked at the horizon as part of a wider embrace of the definitions that Trump claims to protect and enhance the American industry.

Copper prices in the United States jumped to a standard level after the announcement of the new import tax, which Trade Minister Howard Lootnick said it is expected to enter into force at the end of this month.

Lootnick said he expected Trump to sign the documents in the coming days to make the official character to the decision, which the president revealed in a note available at a televised meeting of the Council of Ministers.

“Today we are doing copper,” Trump said. “We will make it 50 %.”

The United States imported about 810,000 metric tons of refined copper last year, about half of what it consumed, According to the American geological survey.

Chile was the largest resource, followed by Canada.

The metal is a major component of military equipment, as well as electric cars and construction. The current US tariff rates on copper are usually less than 50 %.

The new 50 % average will coincide with the recently imposed steel and aluminum tax, but it will be higher than many expected in the industry.

Some in the industry said they want to see the final demand before speaking, noting that some countries and products may secure exemptions.

“We have to see whether this will be applied to all or some of them,” said Copper Cocho Cocho, head of the copper producer in Chile Kudko.

Scott Lincum, Vice President of Economy and Trade at the Kato Institute, said that the advertisement seemed to be “more than the same” – which raises uncertainty, and at the same time it shows “completely clear” that the high tariff of what was coming.

“We will get a new kind of historically high American definition level – we are actually wandering in the number and accurate coverage,” he said, adding that this procedure will help us to producers, but it hurts many companies in the United States that need copper as inputs.

Trump’s copper plans come because the White House is also preparing separately to start raising tariffs on goods from countries around the world as of August 1.

Trump has already imposed a 10 % tariff on most products, but he canceled his most aggressive plans after financial markets in customs tariffs and commercial groups in the United States fell.

Trump sent messages to the leaders of 14 countries on Monday, including South Korea and Japan, and warned them against plans to develop new fees ranging from 25 % to 40 %.

Many commercial partners still hope to conclude deals before August 1.

Trump said on Tuesday that the talks were going well with the European Union and was “perhaps two days” from sending a letter revealing a new tariff.

In the UK, steel makers are waiting impatiently to hear whether they will be able to avoid tariffs by 50 % on their products.

In May, the United States and the United Kingdom agreed to allow the United States to allow steel and aluminum in the United Kingdom in the United States free from customs tariffs, up to an amount to be determined, as part of a broader tariff deal.

While the deal came into effect last month, the tariff cuts on the minerals were not completed.

Currently, steel and aluminum products that reach the American beaches of the United Kingdom are still subject to an import tax of 25 %, which may double if a deal between the two countries is not carried out by July 9.

The White House did not respond to a request to comment on the status of these conversations.

In his remarks, Trump also said he intends to move forward with the definitions of up to 200 % on medicines, but he said he would give the industry at least a year.

Additional reports from Oliver Smith