President Donald Trump took to his Truth Social platform on Tuesday to propose tariffs on yet another critical raw material needed in U.S. industry.
"Like our Steel and Aluminum Industries, our Great American Copper Industry has been decimated by global actors attacking our domestic production," wrote Trump. "To build back our Copper Industry, I have requested my Secretary of Commerce and USTR to study Copper Imports, and end Unfair Trade putting Americans out of work. Tariffs will help build back our American Copper Industry, and strengthen our National Defense."
"American Industries depend on Copper, and it should be MADE IN AMERICA - No exemptions, no exceptions!" wrote Trump. "America First creates American jobs, and protects our National Security. It’s time for Copper to 'come home.'"
Copper is a massively important manufacturing input, required in the use of everything from plumbing to electrical wiring to computer hardware.
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While experts say tariffs reduce economic growth, tariffs on raw materials like copper, steel, and aluminum can be particularly harmful. They may protect a small number of jobs in domestic production of those materials, but they could also raise the price of that material for the vastly greater number of industries and businesses that need it for manufacturing. When Trump enacted steel tariffs during his last term, it led to devastating job losses, including at a prominent nail manufacturing company in Missouri.
Making matters worse, the libertarian magazine Reason noted in an article attacking the steel tariffs, much of this material is critical for energy production, which further impacts the price of everything we produce and consume.
"Steel — whose prices could increase by "$100 to $150 a short ton" because of the tariffs, according to an analysis from Citi Bank — and aluminum are used in everything from fossil fuels to green energy," wrote Jeff Luse. "Steel makes up 66 percent to 79 percent of a wind turbine's mass and the World Bank estimates aluminum accounts for more than 85 percent of most solar energy components, including panels and racking."