President Donald Trump has said that copper entering America from other countries is ready to face a new tax of 50%.
The decision was made through tariff hazards made earlier this year, when he ordered an inquiry on how metal imports were affecting national security.
Similar investigation is going on on other areas, including pharmaceuticals, semiconductors and lumbers, as part of a broad tariff scheme that Trump claims will protect and promote the US industry.
Copper prices in the US jumped after their announcement of new imports, which will be applied at the end of the month.
Lutnik said he hoped that Trump signed documents in the coming days to form the verdict, which the President revealed in an derogatory remarks at a television meeting of his cabinet.
“Today we are copper,” said Trump. “We are going to make it 50%.”
The US imported about 810,000 metric tons of sophisticated copper last year, which was consumed about half, American Geological Survey,
Chile was the largest supplier, followed by Canada.
The metal is seen as a major component in military equipment, as well as electric vehicles and construction.
The 50% rate for copper corresponds to the US levy on steel and aluminum products, Trump picked up last month.
Trump’s plans for Copper come as the White House is also preparing to increase the tariff on goods from countries around the world since August 1.
Trump has already imposed a 10% tariff on most products, but shut down its more aggressive plans to allow for business talks after the start of financial markets in Stapper Tarifs and Business Group in the US.
Trump sent letters to leaders of 14 countries including South Korea and Japan on Monday, warning them to make new levy from 25% to 40%.
Many business partners are still expecting a strike on deals before 1 August.
Trump said on Tuesday that the conversation with the European Union was going well and he was “probably two days” closed by sending a letter unveiling a new tariff rate.
In his comment, Trump also said that he planned to move forward with a tariff of up to 200% on pharmaceuticals, but he said he would give at least one year to accommodate the industry.
