The Financial Times reported that Treasury Secretary Scott Bessent is pushing for universal tariffs starting at 2.5% and rising gradually.

President Donald Trump’s vow of tariffs on US copper and aluminum imports would result in higher costs for local consumers because of a shortfall of domestic production and the length of time it would take to renew the industry, analysts and industry participants said on Tuesday.

Copper prices in 2025 face pressure from Trump, tariffs, strong dollar, and energy transition setbacks, analysts warn.

Analysts and industry participants said on Tuesday that President Donald Trump’s promised tariffs on US copper and aluminium imports would lead to higher costs for American consumers, according to a Reuters report.