Robert Friedland, whose Toronto-listed company Ivanhoe Electric is building a copper mine in Arizona, said the U.S. president’s 50 per cent tariffs on the metal will “wake people up” to the country’s lack of energy independence. (Financial Times)

Talking point: While Friedland’s company, which also has stakes in copper-yielding mines in Utah and Montana, will benefit from the policy, not everyone feels the same way. Industry Minister Mélanie Joly said she had spoken with executives at mining firms Glencore and Teck and resolved that Canada will “fight against” the policy, which the president said will take effect August 1. Friedland’s other firm, Ivanhoe Mines, also mines copper outside the U.S. He has long warned that a shortage of copper, necessary to shore up electricity grids, could derail the energy transition. Friedland also told the FT that the metal was important for ammunition, making it “fundamental to America’s national security.”