Chile, Canada, and Peru oppose Trump’s tariff probe into copper imports, stating that their supplies do not threaten U.S. security interests. Collectively, they account for 94% of U.S. refined copper imports. The inquiry is part of broader trade tensions and aims to reduce China’s influence in the copper market.

Chile, Canada, and Peru, leading copper suppliers to the United States, have formally opposed President Donald Trump’s investigation into possible tariffs on copper imports. The countries argue that their exports pose no threat to U.S. security interests and should not be subjected to tariffs, especially in light of the ongoing trade tensions between the U.S. and many of its trading partners. Copper serves as a vital material in construction, transportation, and electronics, with the U.S. obtaining approximately half of its yearly copper requirements from imports.

Trump initiated the inquiry into copper tariffs under the Section 232 national security provisions of the Trade Expansion Act of 1962, a law previously employed to impose tariffs on steel and aluminum. In their letters to the U.S. Commerce Department, which are now publicly accessible, Chile, Canada, and Peru reinforced each other’s positions against this investigation. Jointly, these countries account for 94% of U.S. copper imports, with Chile being the leading producer, followed by Canada and Peru.

Chile’s ambassador to the U.S., Juan Valdes, stated that copper imports from Chile are critical for the U.S. supply chain and do not threaten national security. This investigation, aimed at limiting China’s dominance in the global copper market, lacks clarity on its findings or outcomes as the review must conclude within 270 days, approximately by November. Both the American Chamber of Commerce in Chile and Canada’s government have emphasized that free trade in copper benefits U.S. economic interests.

Peru’s foreign trade ministry has similarly advocated for the exclusion of their country from potential tariffs, asserting that its copper exports present no security risks. Although Freeport-McMoRan, a major player in copper production, stands to gain from tariffs, it has cautioned that such tariffs could negatively impact global economic growth. The company advised U.S. authorities to focus instead on enhancing domestic copper production to mitigate the negative ramifications of a global trade war.

In summary, Chile, Canada, and Peru have collectively contested President Trump’s tariff probe on copper imports, reinforcing that such tariffs would undermine U.S. security interests while potentially benefiting China. Their arguments highlight the critical role of copper in various industries and the economic advantages of maintaining free trade. As the investigation continues, the outcome remains uncertain, but the three countries assert that their copper exports do not pose any threats to the U.S.

Original Source: www.hindustantimes.com

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