U.S. Copper Industry Demands Curbs on Exports of Ore and Scrap Metal

SEATTLE (Scrap Monster): Major U.S. copper producers urged U.S. President Donald Trump to impose restrictions on exports of ore and scrap metal, instead of imposing tariffs on imports into the country.

In February of this year, the U.S. government issued an executive order directing an investigation into copper tariffs. The order gave the U.S. Commerce Secretary the authority to launch an inquiry under Section 232 and suggest measures to increase domestic production, such as imposing taxes, limiting exports, and offering incentives.

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Rio Tinto, Southwire Co., and Trafigura Group are among the corporations that advocated for restrictions on copper exports instead of import duties.

In a note, Rio Tinto said the U.S. government ought to think about imposing export controls on copper concentrate and copper scrap made in the country. According to Southwire, in order to guarantee the expansion of the domestic copper industry, the administration should concentrate on regulatory reform and limitations on US copper exports. Trafigura stated that while imported refined copper should remain tariff-free for the time being, until new mining and smelting facilities are built, imported copper goods such as wire rod, tube, and strip should be subject to import duties.