Big Take How Copper Tariffs Affect Everything You Touch
22 snips
Jul 14, 2025 Joe Deaux, Bloomberg’s economic statecraft reporter, dives into the implications of President Trump's proposed copper tariffs. He explains how these 50% levies could impact everyday items like cars and smartphones, and even affect the electrical grid. The discussion highlights the complexities of domestic copper production and the increased reliance on foreign suppliers, especially from Chile. Deaux further explores the surprising beneficiaries of the tariffs, such as traders and miners, while addressing the economic uncertainties and inflation concerns at play.
AI Snips
Chapters
Transcript
Episode notes
Copper's Ubiquity and Impact
- Copper is essential in numerous everyday products and infrastructure, from cars and electronics to electrical wiring in homes.
- A major change in copper tariffs affects broad sectors including consumer electronics, construction, and military installations.
U.S. Copper Production Decline
- The U.S. once dominated copper production but now imports over 40% of its copper, mainly from Chile.
- The depletion of domestic copper mines and rising global demand compelled this reliance on foreign sources.
Trump's Onshoring Ambition
- President Trump aims to onshore copper manufacturing to recapture the U.S.'s past industrial dominance from the mid-20th century.
- This drive reflects a broader push to revive manufacturing, exemplified by his 'Make America Great Again' slogan.