White House delays copper tariff decision over cost concerns

The White House has not decided on imposing tariffs on refined copper, balancing higher manufacturing costs against benefits for domestic mining, according to two sources familiar with the matter. The hesitation reflects affordability concerns ahead of November's midterm elections. Copper prices have hit record highs as traders stockpile metal in anticipation of duties, creating one of the world's largest U.S. inventories. The Commerce Department provided an update by a June 30 deadline, but a final decision remains pending, with officials evaluating options to reshore critical manufacturing. The U.S. imports roughly half its copper needs and has only two operational smelters. Tariffs could boost domestic projects but raise costs for manufacturers of electrical equipment, autos, and construction goods, complicating Trump's push to lower living costs while rebuilding industry.