Donald Trump on Wednesday announced plans to impose a 50% tariff on copper imported into the United States, a move that quickly drew heat from critics.
In a post on his Truth Social platform, the president hailed the metal’s strategic value to America, saying it’s the “second most used material by the Department of Defense!”
He wrote, “America will, once again, build a DOMINANT Copper Industry. THIS IS, AFTER ALL, OUR GOLDEN AGE!”
But economists, policy experts and others smelted down over what they saw as potential flaws: from possible price hikes for U.S. manufacturers and strained trade relationships with foreign countries to the question of whether America will be able to ramp up domestic production to counter what now won’t be imported on account of it being too expensive.
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