The Globe and Mail reports in its Wednesday edition that U.S. President Donald Trump plans to impose tariffs on copper imports, potentially piling even more pressure on a Canadian economy already reeling from levies on aluminum, steel and cars. The Globe's Niall McGee writes that Mr. Trump said Tuesday that he plans to announce 50-per-cent tariffs on copper soon. The tariffs would be imposed on national-security grounds and justified by the contention that the U.S. needs to boost domestic production of one of the most widely used metals in the economy. The U.S. is a major market for Canadian copper exports, accounting for $4.8-billion, or 52 per cent, of all the country's exports of the metal in 2023. While the U.S. is a much bigger copper producer than Canada, it still relies heavily on copper imports from Canada to meet its needs. Copper mining operations in Western Canada will be mostly insulated from the tariffs as they predominantly ship their metal to other markets. Teck Resources sends the copper it mines at its Highland Valley mine in British Columbia, Canada's biggest copper mine, to Asia and Europe. Teck said in a statement that the company does not sell copper concentrate or finished copper into the U.S.
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