In response to allegations of unfair trade practices, US President announced on Tuesday that he is considering imposing import tariffs on copper and that US production of the red metal should be restarted. He said that copper is essential to American industries and should be produced domestically.
According to Census Bureau data, Chile, Canada and Mexico are the largest suppliers of copper to the US. Earlier this week, he said that his proposed 25% tariffs on Canada and Mexico would take effect next week.
The big goal of using tariffs to reduce US dependence on imports and encourage domestic production of essential goods includes higher trade tariffs. However, it has been predicted that higher tariffs will hinder international trade and could provoke retaliation from other powerful countries.
