Chile and Mexico brace for Trump copper tariff announcement
President Claudia Sheinbaum said on Wednesday Mexico could redirect the copper it typically sends to the U.S. to avoid tariffs from the Trump administration, while her Chilean counterpart Gabriel Boric said he had yet to hear from the U.S. and called for "official" communication, News.az reports citing Investing.
U.S. President Donald Trump said on Tuesday he would soon announce a 50% tariff on copper imports, which make up nearly half of the metal consumed in the country, as part of his bid to build up domestic production.
The news is likely to set off a scramble to ship copper into the United States before tariffs go into effect, expected by the end of July or Aug. 1.
Chile is the top refined copper supplier to the U.S., and Mexico ranks fifth.
On the flip side, the United States represents a relatively small amount of Mexican and Chilean copper exports, which in both cases go mainly to China.
Sheinbaum said Mexico could consider other export destinations outside the U.S. She noted that Mexican officials would be in Washington on Friday for previously planned talks on trade, security and immigration.
"Copper is needed in many places around the world, so there are some options there," she said in her daily press conference in Mexico City.
"Our responsibility is to seek the best possible negotiation with the U.S. and at the same time look for other options for national production and exports to other destinations."
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