White House Tariff Decision on Refined Copper Remains Undecided

The White House has yet to make a final decision on imposing refined copper tariffs. The administration is weighing the potential impact of tariffs on U.S. manufacturing costs against their potential support for domestic mining, smelting, and refining projects.

Reuters reported that two people familiar with the matter confirmed this uncertainty. A White House official stated that the U.S. Department of Commerce submitted an updated assessment of the copper market to Trump before the June 30 deadline set by the White House.

The administration is still evaluating different options to promote the reshoring of copper and other key manufacturing to the U.S., leaving market expectations of an imminent implementation of refined copper tariffs unconfirmed.

Following the news, COMEX October copper futures fell over 4% intraday to around $6.585 per pound, while copper mining stock Freeport-McMoRan (FCX) dropped over 8% in pre-market trading.