Trump's copper, aluminium tariffs may raise costs for U.S. consumers

[highplainsdem]

Source: Reuters

MELBOURNE, Jan 28 (Reuters) - President Donald Trump's vow of tariffs on U.S. copper and aluminium imports would result in higher costs for local consumers because of a shortfall of domestic production and the length of time it would take to renew the industry, analysts and industry participants said on Tuesday.

In a speech to Republican lawmakers on Monday, Trump said he would impose the tariffs on aluminium and copper - metals that are needed to produce U.S. military hardware - as well as steel, to entice producers to make them in the United States.

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"There’s a few unknowns here. Will these tariffs be enacted, and at what scale, and who will pay? Ultimately they generally get paid by the consumer particularly in the case where there’s no domestic substitute," said analyst Daniel Morgan at Sydney investment bank Barrenjoey.

U.S. aluminium and copper smelters have been closing and would need new infrastructure and power contracts to restart, among other measures, all of which take time, he said.

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Read more: https://www.reuters.com/markets/commodities/trumps-copper-aluminium-tariffs-may-raise-costs-us-consumers-2025-01-28/

[LiberalArkie]

1. I do not feel that there isn "MAY" in what Trump does. He is only doing what he (they) know will destroy

the U.S. economy and psyche.

[underpants]

2. My first thought, crime

If the price for copper increases so will the price paid for scrap. That’s just fuel to the fire for people who steal copper as it is. People will rent a house with a fake name and strip it clean and leave. It happens all the time.

[underpants]

3. How do people think we can just start up or restart a whole industry?

Or just BAM open an auto plant or just BAM re-engineer it to switch electric cars back to gas?