The world’s largest copper producer says US tariffs are causing anxiety as the $250bn industry awaits details of proposed levies on the metal less than two weeks before they are due to kick in.
President Donald Trump this month said he would impose a 50 per cent tariff on copper from August 1 but did not clarify if this would apply to the refined metal, semi-finished products or copper ore. Miners and industrial users have questions over the timing and nature of the tariffs.
Máximo Pacheco, chair of Codelco, a state-owned Chilean copper miner and a major supplier to the US, said the uncertainty was difficult to manage.
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