Copper traded in a narrow range at the beginning of the week as investors assessed the potential impact of planned U.S. tariffs. However, according to data from TradingView, the price of copper recently surged to a new all-time high of $5.87.

Copper under tariff pressure: tension between the U.S. and trade partners rises

U.S. President Donald Trump announced that starting August 1, he will impose a 30% tariff on imports from Mexico and the EU. This measure complements an already announced 50% tariff on copper imports, which is set to take effect simultaneously. These policies are creating uncertainty in the market as it remains unclear how major copper consumers will respond.

Trump’s copper tariff announcement is part of a broader framework of trade measures, potentially affecting other sectors as well. For example, he proposed introducing tariffs of up to 200% on pharmaceutical products, which were previously exempt from such duties.

Real-world uses of copper

Copper is an indispensable part of modern life. Thanks to its excellent conductivity, durability, and recyclability, it is used across a wide range of industrial and everyday applications. Often, we don’t even notice its presence, yet many technologies simply wouldn’t work without it.

Real-life applications of copper:

• Electrical wiring: Copper is a key material for cables and wires in both homes and industry.
• Electronics: Found in smartphones, computers, and TVs due to its superior electrical conductivity.
• Construction: Used in roofing, gutters, and plumbing because of its durability and long life.
• Healthcare: With its antibacterial properties, copper is used in hospitals and medical devices.
• Automotive industry: Used in electrical systems, electric motors, and batteries, especially in electric vehicles.
• Renewable energy: Found in wind turbines and solar panels.
• Art and design: Copper and its alloys are used in jewelry and decorative objects.

In the coming weeks, market developments will largely depend on the progress of tariff negotiations, the state of Chinese inventories, and seasonal demand fluctuations. Manufacturers, investors, and governments will need to respond swiftly to new trade conditions that could significantly alter the balance in the global metals market.