This month, U.S. President Donald Trump announced that starting August 1, tariffs of 50% on imported copper would be imposed. Chile is the world’s largest producer of copper and the largest supplier of copper to the United States. Recently, industry insiders, scholars, and citizens in Chile have expressed their concerns.
Chile is a major mining nation in Latin America, with its copper reserves, production, and export volume ranking first in the world. According to mining export data released by the Central Bank of Chile, the amount of copper exported to the United States reached $50.858 billion in 2024, accounting for more than half of the country’s total export value.
In 2024, the copper exported to the United States accounted for 11.1% of Chile’s total copper production, with 65% of refined copper imported into the United States originating from Chile. In Chile, copper is not just a metal product but also known as “the wages of Chile,” reflecting the importance of the copper industry.
Representatives from various sectors in Chile have expressed their disapproval of this unilateral move by the U.S., stating:
The U.S. tariff policy has led to short-term price increases and unease in the copper industry, with tariff measures being misused by the U.S.
Professor Roberto Alvarez from the Economics and Trade Department at the University of Chile:
All this is because the U.S. is pursuing unilateralism, deviating from the rules of good coexistence in international trade, and it has not followed the World Trade Organization’s dispute resolution framework.
President of the Chilean Mining Association, Manuel Vieira:
Now, everyone in Chile is saying this is an unfair practice towards the copper industry, which we can say is a “surprise attack.” It can be said that now the U.S. has become a bully in the region.
In my view, the U.S.’s nearly threatening posture is utterly unworkable, not only for the Chilean market but globally, I believe it represents an aggressive attitude that will not solve any problems.
Trump’s tariff policies impact the global economy