White House Copper Tariff Plan Hits Roadblock Amid Affordability Concerns
The White House has put its plan to impose refined copper tariffs on hold due to concerns that higher prices could raise manufacturing costs.
According to two people familiar with the matter, officials are hesitant to make a decision as they weigh the benefits of encouraging domestic mining against the potential negative impact on manufacturers.
The administration is increasingly focused on affordability ahead of November's midterm elections, and President Trump and Republican lawmakers face pressure to demonstrate that their economic policies are lowering costs for American consumers and businesses.
Copper prices have surged to record highs amid expectations that Trump would impose tariffs on refined copper products such as cathode, which has led to a stockpile in the United States.