U.S. Commerce Nears June-End Copper Tariff Report as 15% Levy Could Reshape Global Flows
Updated
Updated · goldinvest.de · Jun 23
U.S. Commerce Nears June-End Copper Tariff Report as 15% Levy Could Reshape Global Flows
3 articles · Updated · goldinvest.de · Jun 23
Summary
By June 30, the U.S. Commerce Department must deliver President Donald Trump a Section 232 report that will guide whether refined copper faces new import tariffs.
A 15% tariff from January 2027—potentially rising to 30% in 2028—is under discussion after Comex premiums topped $500 a metric ton, already pulling unusually large volumes of copper into the U.S.
If Trump approves the measure, analysts expect imports into U.S. warehouses to reach as much as 200,000 metric tons a month, draining LME supply and pushing global prices higher after spring peaks above $14,500.
U.S. fabricators are resisting because the country imports about half its refined copper, warning tariffs would raise input costs and, alongside existing 50% duties on semi-finished copper products, could hurt demand more than spur mining.
A delay remains possible, which would preserve current inventories and volatility; a full rejection of raw-copper tariffs could instead collapse the Comex premium and send stored metal back toward Asia.