Background on Copper and Its Importance
Copper, a vital metal in various industrial applications due to its high electrical and thermal conductivity, is used extensively in manufacturing cables, electronic components, plumbing systems, heating and cooling systems, construction, and the automotive industry. In 2024, Mexico was the third-largest external supplier of copper and related products to the US market, with shipments totaling $976 million, trailing behind Chile ($6.117 billion) and Canada ($3.994 billion), according to the US Department of Commerce.
Impact on US and Mexican Copper Trade
In 2024, the United States imported $17.11 billion worth of copper and related products, making it the second-largest importer after China ($72.79 billion). The US does not import copper minerals or concentrates.
From January to May 2025, US imports of copper and related products surged by 73%, reaching $10,440 million. This increase likely reflects businesses anticipating shipments to the US market to avoid additional costs associated with tariffs. During this period, Mexican exports of copper to the US grew by 12%, totaling $419 million, placing Mexico in sixth place among the largest exporters to this market.
Meanwhile, other countries’ exports experienced significant growth: Germany’s increased by 58%, Chile’s by 117%, and Peru’s by 66%. Canadian exports grew only 1%, while the Democratic Republic of Congo’s exports skyrocketed from $26 million to $606 million.
Trump’s Tariff Announcements
President Donald Trump announced a 50% tariff on imported copper products as part of an effort to boost local production of the metal. The tariffs are expected to impact Mexican exports worth approximately $100 million annually. The announcement comes under Section 232 of the Trade Expansion Act of 1962, which allows the president to impose restrictions on imports, such as tariffs, if the Commerce Secretary determines that a product is being imported into the US in quantities or under circumstances that threaten to impair national security.
Trump previously invoked Section 232 to impose tariffs on US imports of steel, aluminum, automobiles, and auto parts in 2018 and 2019. He may consider similar measures depending on the outcomes of ongoing investigations into imports of lumber, semiconductors, pharmaceuticals, critical minerals, trucks, and aircraft.
Trump’s Statements on BRICS Tariffs
During a meeting with cabinet officials at the White House, Trump stated that a 10% tariff would soon be imposed on countries within the BRICS group. He mentioned, “Anyone who is part of the BRICS will receive a 10% tariff very soon.”
Trump also indicated that he planned to send a letter to the European Union within two days revealing the tariff rate for US imports originating from this bloc. He praised the EU’s recent conduct in trade talks and hinted at upcoming tariffs on imported semiconductors and pharmaceutical products, with the pharmaceutical tariff potentially reaching 200%.
“We will give people around a year, a year and a half, to come in… After that, tariffs will be applied,” Trump said during a cabinet meeting at the White House.
“If they have to bring the products into the country… they will face very high tariffs, around 200%. We’ll give them some time to get organized,” he added.
Key Questions and Answers
- What are the potential impacts of Trump’s copper tariffs on Mexico? The tariffs are expected to impact Mexican exports worth approximately $100 million annually.
- What is the significance of copper in various industries? Copper’s high electrical and thermal conductivity makes it essential in numerous industrial applications, including cables, electronics, plumbing, heating and cooling systems, construction, and the automotive industry.
- How have US copper imports changed recently? In 2024, the US imported $17.11 billion worth of copper and related products, with no imports of copper minerals or concentrates.
- What are the projected growth rates for copper exports from various countries? From January to May 2025, Mexican copper exports grew by 12%, while Germany’s increased by 58%, Chile’s by 117%, Peru’s by 66%, Canada’s by 1%, and the Democratic Republic of Congo’s exports surged from $26 million to $606 million.
- What is the basis for Trump’s tariff announcements? The tariffs are announced under Section 232 of the Trade Expansion Act of 1962, which permits the president to impose restrictions on imports if they threaten national security.
- What tariffs does Trump plan for BRICS countries? Trump stated that a 10% tariff would soon be imposed on countries within the BRICS group.
- What other products does Trump plan to impose tariffs on? Trump hinted at upcoming tariffs on imported semiconductors and pharmaceutical products, with the pharmaceutical tariff potentially reaching 200%.
