**Trump FURIOUS as Copper Tariff Backfires – Canada’s Bold Retaliation Strikes Back**
In a shocking escalation of trade tensions, President Donald Trump has announced a staggering 50% tariff on copper imports, set to take effect on August 1st. The move, framed as a measure for national security, has sent shockwaves through global markets, pushing copper prices to an all-time high of $5.95 per pound—an unprecedented 13% surge in a single day.
The implications are dire. With U.S. factories relying on imported copper for everything from electric vehicles to construction, this tariff threatens to add thousands to the cost of American-made cars, potentially pushing sticker prices into the five-figure range. Analysts at Cox Automotive warn that this could inflate the cost of Canadian-built vehicles by an average of $6,000, while the housing market faces a similar crunch, with new homes potentially costing an additional $22,000.
Canada, which supplies a significant portion of U.S. copper, is reeling from the announcement. Prime Minister Mark Carney has vowed to protect Canadian interests through every available legal and diplomatic avenue, hinting at possible World Trade Organization action. Meanwhile, Canadian companies like Tech Resources are pivoting quickly, rerouting copper shipments to Asian markets to sidestep the tariff chokehold.
As the clock ticks down to the August deadline, Ottawa is racing to establish new trade routes and mitigate the damage. The stakes are high: if the tariff remains in place, it could cripple U.S. manufacturers and reshape North America’s supply chain overnight. The International Chamber of Commerce warns that U.S. tariffs could exceed 20%, the highest level seen in nearly a century.
As tensions escalate, the question looms: will Washington back down to avoid a full-blown trade war, or will it double down, risking inflation and fractured alliances? The next few days are critical as both nations brace for the fallout of this unprecedented trade battle. Stay tuned as we continue to monitor this rapidly developing story.