BHP CEO anxious about copper production growth due to negative impact of US tariffs

BHP Group Ltd. executives are concerned about the impact of the United States’ escalating trade standoff with multiple partner nations. Bloomberg experts believe that Donald Trump's tariff policies could lead to a slowdown in global economic growth and disruptions in worldwide supply chains for key raw materials, including copper.

If such a pessimistic scenario is realized, it will hinder BHP CEO Mike Henry's plans to increase the company's share in copper output. Besides, the producer has recently reported optimistic quarterly results for copper and iron ore production.

For the first three months of 2025, BHP raised copper output by about 10%, largely driven by the ramp-up of production at Escondida in Chile. The volume of ore extraction at the company's Australian projects remained the same, Bloomberg reports.

The agency also informs that commodities are particularly vulnerable to unfavorable effects of Trump's import tariffs. In late March, copper prices began to decline, although they later managed to regain their previous positions.