White House delays copper tariff decision as affordability concerns weigh

The White House has not decided on refined copper tariffs, weighing higher manufacturing costs against boosting domestic mining, two sources said. Officials are focused on affordability ahead of November midterm elections. Copper prices hit record highs on tariff expectations, with traders building large U.S. stockpiles. The Commerce Department updated President Trump by a June 30 deadline, but no final decision was made. Tariffs could raise costs for electrical, auto, and construction manufacturers. The U.S. imports half its copper needs and has only two smelters. Trump previously imposed tariffs on semi-finished copper products in July 2025, stopping short of a blanket levy.