US copper imports surge ahead of looming 50% tariffs on August 1

With just days left before steep new tariffs on copper imports take effect in the US, at least four cargo ships are accelerating deliveries to American ports in a last-minute rush to avoid hefty duties, Mining Weekly reports. Starting August 1, President Donald Trump’s 50% tariff on imported copper will finally go into force.

One vessel, the Kiating, has already changed its destination from New Orleans to Hawaii, reducing its arrival time by 20 days. Three other bulk carriers loaded with Chilean copper are also speeding toward US shores. For major traders like Glencore and Trafigura, beating the deadline could mean savings of about $70 million per 15,000-ton shipment. 

Since Trump’s tariff announcement, New York copper prices have surged, opening a rare arbitrage window. However, uncertainty lingers over customs clearance for shipments in transit after August 1, and experts suggest that traders may prioritize clearance queues at ports to expedite processing. Still, logistical challenges could complicate last-minute deliveries.