financetom
Business
financetom
/
Business
/
Trump's copper tariffs plan to include semi-finished products, Bloomberg News reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump's copper tariffs plan to include semi-finished products, Bloomberg News reports
Jul 10, 2025 7:07 PM

(Reuters) -U.S. President Donald Trump's plans to impose 50% tariffs on copper would include semi-finished products such as those used for power grids, the military and data centers, Bloomberg News reported on Thursday, citing people familiar with the matter.

Trump on Wednesday announced a new 50% tariff on copper starting August 1, in a bid to promote domestic development of an industry critical to defense, electronics and automobiles.

Reuters could not immediately verify the report. The White House did not immediately respond to a request for comment.

"Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many," Trump said in a Truth Social post on Wednesday.

The White House ordered a Section 232 investigation into copper imports in February, using a law that gives the president authority to impose higher tariffs based on national security grounds.

The move marks the latest in a string of sectoral tariffs Trump has placed on industries such as steel and aluminum that economists warn will drive up costs for American consumers.

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 >
Newtopia Narrows Adjusted Operating Loss For Both Q4 2023 and Q1 2024
Newtopia Narrows Adjusted Operating Loss For Both Q4 2023 and Q1 2024
May 23, 2024
05:02 PM EDT, 05/23/2024 (MT Newswires) -- Newtopia Inc. ( NEWUF ) , a wellness company, after trade Thursday reported that it had narrowed its adjusted operating loss for both the fourth quarter of 2023 and the first quarter of 2024, while talking up its prospects for the whole of this calendar year. The company reported an adjusted operating loss...
Philips Prices 700 Million Euros Fixed Rate Notes Offering
Philips Prices 700 Million Euros Fixed Rate Notes Offering
May 23, 2024
04:57 PM EDT, 05/23/2024 (MT Newswires) -- Royal Philips (PHG) said late Thursday it priced 700 million euros ($756.9 million) of fixed rate notes due 2032 at 98.257% of par, with the offering more than 2 times oversubscribed. The company said the notes will have a debt-neutral effect, as the proceeds will be used for debt repayment in 2024 and...
HPV vaccine provides real benefits for men, analysis shows
HPV vaccine provides real benefits for men, analysis shows
May 23, 2024
May 23 (Reuters) - Vaccination of boys and men against the human papillomavirus (HPV) reduces their risk of head and neck cancers and other malignancies, a new analysis shows, adding to the vaccine's proven benefit in protecting women from cervical cancer. The study of more than 3.4 million people is one of the first long-term analyses of the vaccine's real-world...
Stifel Financial Assets Under Management Decline in April
Stifel Financial Assets Under Management Decline in April
May 23, 2024
04:59 PM EDT, 05/23/2024 (MT Newswires) -- Stifel Financial ( SF ) late Thursday reported a 3% decline in total client assets under management to around $454 billion on April 30 from $467.7 billion at the end of March. Total client assets were up 12% year over year, the company said. The decline in client assets during April reflects a...
Copyright 2023-2026 - www.financetom.com All Rights Reserved