23 July 2025 | Other

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

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.

Anton Volkov MarketCheese
Period: 15.07.2026 Expectation: 3500 pips
Sell GBPUSD with 1.30000 in view
15 May 2026 41
Gold sell
Period: 31.05.2026 Expectation: 6000 pips
Gold sell-off targets $4,640
15 May 2026 49
Period: 22.05.2026 Expectation: 620 pips
USDCAD challenges key resistance as bulls lose their grip
15 May 2026 29
Period: 29.05.2026 Expectation: 180 pips
Purchasing Brent crude amid global energy deficit
15 May 2026 42
Period: 22.05.2026 Expectation: 600 pips
AUDCAD pulls back on profit-taking after reaching five-year high
15 May 2026 32
Period: 28.05.2026 Expectation: 155 pips
Investing in ETHUSD up to $2,425
14 May 2026 64
Go to forecasts