Chilean Copper Exports Spared from Trump Tariffs
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Chile, the worldS largest copper producer, received welcome news Wednesday as President Donald Trump announced tariffs on manufactured copper products, but exempted raw copper imports. This decision allows Chilean exports, especially copper cathodes, to continue supplying the United States market without the anticipated financial burden.
Máximo pacheco,president of the Chilean state company Codelco,expressed relief,stating,”A first reading allows us to conclude that rates will not be applied to copper cathodes… allowing us to continue as a country supplying that market.” He added, “It is indeed good news for Chile, for Codelco and for our customers in the United States.”
The united States relies heavily on imported copper, with the U.S. Geological Survey reporting that 45% of it’s industrial copper needs are met by foreign suppliers.Chile alone fulfills 51% of this demand, making it a critical partner for American industries.
The White House confirmed that effective August 1, a 50% customs tariff will be imposed on products manufactured with copper, not on the raw metal itself.Refined copper, especially in the form of cathodes, is Chile’s primary export to the united States.
Chilean Ambassador to the United States, Juan Gabriel Valdés, celebrated the outcome, noting, “It is indeed a satisfaction to know that Chile’s exports, particularly cathodes, will not have tariff.”
negotiations between Chile and the United States had been ongoing as Monday in Washington regarding potential tariffs. President Trump’s initial decision threatened to impose a 10% or up to 20% tax on Chilean exports, despite the existing Free Trade Agreement in place since 2004.
The government of Gabriel Boric had actively sought to include copper in these negotiations, which concluded just one day before the scheduled implementation of the copper tariffs.
Data from the Central Bank of Chile indicates that Chilean exports to the U.S. totaled $15.615 billion in 2024, with refined copper accounting for $5.860 billion. In the first half of 2025, shipments of refined copper reached $4.189 billion, suggesting a potential anticipation of restrictive measures by U.S.buyers.
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This article discusses trade and economic policies, not financial or legal advice.
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