In July 2025, President Donald Trump imposed a 50% tariff on imported copper, efficient August 1, igniting a new trade war. Framed as a national security measure, the tariff sent out copper futures skyrocketing 13% to $5.95 per pound, the steepest single-day increase ever. COMEX costs struck $12,300 per metric ton, disrupting global markets and producing a $1,600 per ton cost gap between New york city and London. The U.S., importing 800,000 tons of copper in 2024, with 25% from Canada, now deals with supply chain chaos. Industries like electric cars, requiring 80 kg of copper per system, and renewable resource tasks, with wind turbines using 4 loads each, brace for millions in included costs. Ford and Tesla prepare for higher product expenses, while housing costs might rise by $22,000 due to metal and lumber tariffs. Canada, led by Prime Minister Mark Carney, is pivoting, rerouting its $9 billion copper trade to Asia, with exports to non-U.S. buyers up 25% in March. Teck Resources is hedging on Shanghai's exchange, and Quebec authorities are protecting deals in Lima and Santiago. As Canada prepares $125 billion in retaliatory duties by July 22, U.S. makers seek exemptions, fearing a $4.2 billion cost surge. This tariff threatens North American trade stability, running the risk of inflation and task losses, with the next 10 days critical for de-escalation or further financial fallout.
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