President Donald Trump is once again proving he’s serious about protecting American industry. On Wednesday, Trump signed a proclamation imposing 50% tariffs on copper imports, calling it a matter of national security. The move targets semifinished copper products such as pipes, wires, rods, sheets, and electrical components to strengthen U.S. manufacturing and reduce dependence on foreign suppliers.
Notably, the administration spared refined copper ore, cathodes, and concentrates, ensuring that U.S. producers can maintain supply while ramping up domestic processing. The tariffs, set to take effect Friday, sent copper markets into a tailspin, with U.S. copper futures plunging 20% to $4.55 per pound in the largest single-day drop on record.
Mining stocks reacted sharply. The United States Copper Index (CPER) fell 19.3%, while global players Rio Tinto (RIO) and BHP (BHP) slipped 4.7% and 4.4%. Arizona-based Southern Copper (SCCO) dropped 7.3%, and Freeport-McMoRan (FCX), one of the world’s top producers, slid 10%. Brazil’s Vale (VALE) edged down 2.7%.
Critics are quick to focus on short-term market jitters, but Trump’s move is aimed squarely at protecting American jobs and ensuring our supply chains aren’t controlled by foreign powers. Southern Copper has already indicated it can redirect production to other markets, demonstrating the strength and flexibility of U.S.-aligned companies.
This is classic Trump: putting American workers and security first, even when Wall Street squeals. As the tariffs kick in, the U.S. is positioned to take greater control over a critical resource essential to infrastructure, defense, and future technology.
Once again, Trump is doing what career politicians never had the courage to do—standing up to global suppliers and making sure America leads in strategic industries. This is America First economics in action.