President Donald Trump has ordered universal 50 per cent duties on certain kinds of copper imports following a national security investigation he launched in February. (The Logic)

Talking point: A White House fact sheet published Wednesday said the new tariffs will apply to semi-finished copper products—such as pipes, wires and tubes—and copper-intensive derivatives, including cables and electrical components. U.S. copper prices fell quickly at the news that the tariffs would not apply to refined metal and other input materials. The U.S. is the biggest importer of Canadian copper products—representing about 52 per cent of Canada’s $9.3 billion worth of exports in 2023. Canadian companies also have stakes in large copper mines in Chile and Peru, which are both major sources of copper exports to the U.S. The duties, which do not stack with other tariffs, will apply only to the copper content of a product. Any goods already hit with an auto tariff will be exempt from the copper tariffs. Meanwhile, Trump also announced that he will suspend the “de minimis” exemption that allows low-value goods to enter the U.S. duty-free on Aug. 29, including for Canada.