financetom
Business
financetom
/
Business
/
Chile and Mexico brace for Trump copper tariff announcement
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Chile and Mexico brace for Trump copper tariff announcement
Jul 9, 2025 10:13 AM

MEXICO CITY/SANTIAGO (Reuters) -President Claudia Sheinbaum said on Wednesday Mexico could redirect the copper it typically sends to the U.S. to avoid tariffs from the Trump administration, while her Chilean counterpart Gabriel Boric said he had yet to hear from the U.S. and called for "official" communication.

U.S. President Donald Trump said on Tuesday he would soon announce a 50% tariff on copper imports, which make up nearly half of the metal consumed in the country, as part of his bid to build up domestic production.

The news is likely to set off a scramble to ship copper into the United States before tariffs go into effect, expected by the end of July or Aug. 1.

Chile is the top refined copper supplier to the U.S., and Mexico ranks fifth.

On the flip side, the United States represents a relatively small amount of Mexican and Chilean copper exports, which in both cases go mainly to China.

Sheinbaum said Mexico could consider other export destinations outside the U.S. She noted that Mexican officials would be in Washington on Friday for previously planned talks on trade, security and immigration.

"Copper is needed in many places around the world, so there are some options there," she said in her daily press conference in Mexico City.

"Our responsibility is to seek the best possible negotiation with the U.S. and at the same time look for other options for national production and exports to other destinations."

Boric said in Santiago that he was awaiting official communication from the U.S. government, including whether the tariffs would include copper cathodes, and questioned "whether this will actually be implemented or not".

He called for treading cautiously until more details were known, and appeared to chide Trump for his penchant for impromptu announcements, often shared over social media.

"In diplomacy, policy isn't made on social media, but through formal communications," Boric told reporters.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
NSA Q3 net income falls 2.5%, Core FFO per share drops 8.1%
NSA Q3 net income falls 2.5%, Core FFO per share drops 8.1%
Nov 3, 2025
Overview * National Storage Affiliates Trust's ( NSA ) Q3 net income fell 2.5% yr/yr, Core FFO per share declined 8.1% * Company's same store NOI decreased 5.7% due to revenue drop and higher expenses * NSA acquired two self storage properties for $32 mln in Q3 Outlook * NSA reaffirms 2025 Core FFO guidance at $2.17-$2.23 per share *...
Corning Insider Sold Shares Worth $2,060,765, According to a Recent SEC Filing
Corning Insider Sold Shares Worth $2,060,765, According to a Recent SEC Filing
Nov 3, 2025
04:38 PM EST, 11/03/2025 (MT Newswires) -- Lewis A Steverson, Vice Chairman, Executive Vice President and Chief Legal & Administrative Officer, on October 31, 2025, sold 23,142 shares in Corning (GLW) for $2,060,765. Following the Form 4 filing with the SEC, Steverson has control over a total of 17,575 common shares of the company, with 17,575 shares held directly. SEC...
Goodyear Tire & Rubber Company misses Q3 sales estimates
Goodyear Tire & Rubber Company misses Q3 sales estimates
Nov 3, 2025
Overview * Goodyear Q3 2025 net sales missed analyst expectations * Adjusted EPS for Q3 2025 beats consensus, reflecting strong operational performance * Company completed $650 mln sale of Chemical business, aiding deleveraging Outlook * Goodyear expects $1.5 bln annualized run-rate benefits by year-end 2025 * Company anticipates further earnings acceleration in Q4 2025 Result Drivers * GOODYEAR FORWARD -...
Fiserv Insider Bought Shares Worth $651,800, According to a Recent SEC Filing
Fiserv Insider Bought Shares Worth $651,800, According to a Recent SEC Filing
Nov 3, 2025
04:39 PM EST, 11/03/2025 (MT Newswires) -- Lance M Fritz, Director, on October 30, 2025, executed a purchase for 10,000 shares in Fiserv ( FI ) for $651,800. Following the Form 4 filing with the SEC, Fritz has control over a total of 13,086 common shares of the company, with 13,086 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/798354/000079835425000173/xslF345X05/wk-form4_1762204364.xml ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved