Executive Decree that is instructed by the Minister of Commerce Howard Latnik to conduct an investigation into whether it is necessary to impose additional to the imported, signed on Tuesday (25/2). The argument of the US president is that there is a risk to their national security and financial stability.
Strong blow to national production
“Copper is of critical metal and supply with it is essential for our national security. But the foreign copper flood in the US market has been a severe blow to national production, “Donald Trump said.
“I will investigate if there is a need to implement potential customs duties. US industries depend on copper and should be able to supply it to the US, indefinitely, “Haward Latnik said.
According to the US Secretary of Commerce, “duties could allow our copper industry to be rebuilt, if necessary, and strengthen our national defense.”
The investigation
This investigation will be carried out under subparagraph 232 of the 1962 Trade Expansion Act, which enables the executive the opportunity to examine or proceed with the imposition of customs duties.
Versi 232 allows the US President, on the recommendation of the Ministry of Commerce, to impose customs duties on products that are considered to be a risk to US national security.
China’s target
The White House does not hide that this research mainly targets the target, which it also accuses in this area of overproduction in order to eliminate foreign competition.
“China has long been using overproduction as a financial weapon to dominate world markets and systematically endanger competitors, then consolidating its dominant position in every market after competition collapses,” he denounced during a press conference. Through teleconference, Peter Navarro, President Trump’s adviser to trade.
Following the signing of the Executive Decree, the Ministry of Commerce has 270 days to investigate and submit to the US President. Subsequently, D. Trump will decide on the imposition of or non -customs duties.
US enters 45% of copper
According to state geological data, the US is introducing 45% of the copper they consume this time. These imports are mainly made by Chile and Canada.
In 2024, the US introduced almost 800,000 tonnes of processed copper, while their national production reached 850,000 tonnes.
4th China in copper production
On a global scale, China ranks fourth in copper production, behind Chile, Peru and LD Congo, according to data from the US Interior Ministry. The first five of the world is completed by the US.
This metal is used, inter alia, by the defense industry, especially for aircraft production, however, has many other applications, for example in the production of electric cables and in data centers.
According to Mr Navarro, the US has copper stocks that are among the world’s largest and the country’s “potential” in this field remains “unused”.
Source: ertnews.gr
