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Chile hoping for US deal on copper
The Mercury
|July 31, 2025
CHILE, the world’s biggest copper producer, is hoping for a last-minute deal to stop the US from imposing a 50% import tariff on the red metal.
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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 US, whose President Donald Trump announced a punishing levy on the metal starting tomorrow.
Government sources in Santiago said delegations have been talking behind closed doors this week, seeking a Trump-pleasing deal that will in effect replace a free trade agreement in place since 2004.
The US 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.
According to Trump himself, it is “the second most used material by the Department of Defence” - used in semiconductors, planes, ships, ammunition, data centres and missile defence systems.
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