Commerce Secretary Howard Lutnick said President Trump plans to introduce steep tariffs on copper imports after he directed Cabinet officials to investigate the country’s ability to rely on its domestic supply chain for the metal instead of foreign trade partners.
“The president wants steel and aluminum in America. And let me be clear, nothing’s going to stop that until we’ve got a big, strong domestic steel and aluminum capability,” Lutnick said during a Wednesday appearance on Fox Business Networks’ “Varney & Co.”
“And, by the way, he’s going to add copper to that mix too,” he continued.
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No date was given for the levies but the president is expected to announce a new round of reciprocal tariffs on April 2.
Lutnick said Trump’s tariffs on outsourced goods are “essential to national security” as outlined in the president’s February executive order, which cites copper as having a “vital role” in defense applications, infrastructure, and emerging technologies, including clean energy, electric vehicles, and advanced electronics.
“Japan dumps steel. China dumps steel. What that means is they make it, they overproduce and they sell it dirt cheap to drive our – to try to drive our guys out of business,” Lutnick told Stuart Varney.
“The president is here to protect American workers. He’s here to protect American industry. We’re going to stop that nonsense and bring steel here,” he added.
China currently dominates global copper smelting and refining, controlling over 50 percent of global smelting capacity and holding four of the top five largest refining facilities.
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Canada and Peru are some of the largest U.S. suppliers of refined copper, only outpaced by Chile, which remains the world’s largest copper miner.
Lutnick has said Trump’s new policies will come as a blow to foreign nations for the good of the American economy.
“You’ve got the smartest guy, most intuitive guy driving tariff policy. I am, indeed, helping him execute his policy. The economic team is one. We’re doing it together,” he said on air.
“You know, we understand what he wants to achieve. He wants to bring manufacturing back to America. He wants to bring and protect America from certain industries, which he’s called out. And we’re doing it together.”
