U.S. Copper Surge: Tariffs, Supply Shocks & Strategic Gaps

As the U.S. rolls out a 50% tariff on copper imports, industries face rising input costs amid a domestic supply gap — ~50% of copper is imported. Key sectors like EVs, renewables, and construction are particularly exposed, with inflation risks mounting. While U.S. miners may enjoy short-term tailwinds, the lack of complementary reforms limits sustainable upside. The tariff-driven price surge, record ETF inflows, and widening gap with global benchmarks point to a fragmented copper market. For investors, this creates both risk and opportunity—demanding sharper focus on cost-sensitive sectors, inflation hedges, and strategic plays on U.S. reshoring.