Jamie Spencer
U.S. Commerce Secretary Howard Lutnick reaffirmed that President Donald Trump’s expanded 25% tariffs on steel and aluminum will remain in place until domestic production is significantly strengthened. Additionally, Trump is set to extend trade protections to copper imports.
Trade Tensions with Canada
Lutnick, speaking to Fox Business Network, emphasized that upcoming talks with Ontario Premier Doug Ford aim to “lower the temperature” between the U.S. and Canada. However, negotiations on a national level will not begin until Mark Carney is fully installed as Canada’s prime minister.
“So I think it’s just to level-set things, make sure we know each other, and then we’re going to negotiate with all of Canada,” Lutnick said.
National Security Concerns
Trump’s administration has classified steel and aluminum as critical to national security, placing them alongside semiconductors and pharmaceuticals in terms of strategic importance.
“We can’t be in a war and rely on steel and aluminum from some other country. I mean, it’s just not reasonable,” Lutnick stated. “So the president wants steel and aluminum in America, and let me be clear, nothing is going to stop that until we’ve got a big, strong domestic steel and aluminum capability. And by the way, he’s going to add copper to that mix too.”
New Tariffs on Copper
Trump has directed Lutnick to initiate a Section 232 national security investigation into copper imports. This move follows the precedent set by steel and aluminum duties and could lead to further trade barriers.
Looking Ahead
The introduction of tariffs on copper, coupled with ongoing trade disputes, is expected to have significant implications for industries reliant on these materials. With the administration prioritizing domestic production, businesses and international trade partners will be closely monitoring policy developments.
