Could send shockwaves through eastern part of sector and ultimately benefit China
United States President Donald Trump is laying the groundwork for tariffs on copper that could send shockwaves through the eastern part of Canada’s sector and ultimately benefit China. Canada in 2023 produced 2.2 per cent of global mined copper, less than half of what’s produced in the U.S., which accounted for five per cent.
Nonetheless, more than half the copper produced in Canada, mainly from the eastern part of the country, was shipped to the U.S., making up a large portion of the imports there.
But Canadian sector leaders are now worrying they could lose out while metal traders sitting behind desks win in other parts of the world due to the emerging possibility that copper will be dragged into the Canada-U.S. trade war and then both sides imposing tariffs in a tit-for-tat escalation.
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