Senior trade and manufacturing counselor Peter Navarro appeared on Newsmax on Tuesday to discuss what he said about the national security implications of copper dumps in the US market.
President Donald Trump on Tuesday order A national security investigation into potential new tariffs on copper imports to boost US production of critical metals aimed at countering China’s domination in the global market. in exterior In “Rob Schmitt Tonight,” Navarro said copper ranks as the second most important resource for the Department of Defense, as it is essential for a sophisticated weapons system. However, the current global market scenario shows a tendency for copper to be dumped excessively in the US market, weakening domestic production capacity.
“Copper is like the second most important thing the Department of Defense uses to build weapons systems. And we are now in a situation where there is a copper surplus all over the world,” Navarro told Schmidt. He spoke. “We’ve lost both copper dumping in our markets, and we’ve lost both the copper that takes the ore and gets raw copper and refines it into the product we need. And it’s serious. That’s what it is.”
Navarro said Trump’s orders are consistent with previous investigations under Section 232, as well as those made for aluminum and steel. These investigations, as commerce secretary Howard Luttonick, historically launched the path of protective tariffs designed to revive the US industry.
“Today is one of 232 surveys of aluminum and steel, and we’ve already gone. And Secretary Lutnick says in Trump’s time, that’s what we’re saying right away, and that we’ll regain our capabilities. It’s about coming up with recommendations on whether copper should be tariffed so that we can,” Navarro said. “And Rob, this whole electrification of our economy has doubled the demand for copper in just 10 years, so we seem to have supply and demand like this towards the crisis. And we don’t have the ability to produce it.”
With global tensions, particularly in countries like China, threatening to affect the US supply chain, Navarro says, these measures are considered essential to maintain national security. I did.
“If there’s a geopolitical issue in China or elsewhere, we can squeeze. Boss, he’s on this and Chief Rutnick will be one of his spears. , it was a good day, the day of the oval executive order,” Navarro said. (Related: Trump says that trade deals with China are “possible”)
An anonymous White House official told Reuters that tariff rates will be determined by an ongoing investigation, and that President Trump prefers tariffs over quotas. The Trump administration aims to impose 25% tariffs on imports from Canada and Mexico, as well as goods from China, to curb illegal immigration and the influx of illegal drugs from these countries into the United States.
Following commitments from Mexico, Trump suspends Mexico and Canada’s tariffs for 30 days after deploying thousands of troops to the US-Mexican border and declares promises from Canadian Prime Minister Justin Trudeau to strengthen the north border. I agreed to do so. After Trump threatened tariffs, Taiwan’s President Lai Qingte announced on February 14 that his country would increase its investment in the United States.
Beijing reportedly began preparing to launch trade debate with the US shortly after the Trump administration imposed a 10% tariff on Chinese imports.
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