Chile Hopes for Deal

COPPER: COUNTRY THREATENED WITH 50% IMPORT TARIFF BY US

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Chile, the world's biggest copper producer, is hoping for a last-minute deal to stop the United States from imposing a 50% import tariff on the red metal. If not, the South American country should be able to easily find other buyers for a metal deemed critical for the artificial intelligence and green energy revolutions, analysts say.

Chile is the largest provider of copper to the United States, whose President Donald Trump announced a punishing levy on the metal, starting tomorrow.

Government sources in Santiago said delegations had been talking behind closed doors since Monday, seeking a Trump-pleasing deal to replace a free trade agreement in place since 2004.

The United States imports about 45% of the copper it needs for industrial use, according to the US Geological Survey, a government agency. Of that, it gets 51% from Chile.