US gears to slap tariffs on copper imports

Agencies

US tariffs on copper imports could be coming within several weeks, months earlier than the deadline for a decision, according to people familiar with the matter.

US President Donald Trump in February directed the Commerce Department to open an investigation into potential copper tariffs and submit a report within 270 days, though it's now expected to be resolved sooner, said the people.

The investigation already is looking like little more than a formality, some of the people said, with Trump having regularly said he plans to impose the tariffs.

The administration is proceeding expeditiously with the review, and a conclusion could be possible well before the 270-day deadline, an official familiar with the process said.

Meanwhile, Trump said he plans to limit exceptions to his tariff push, the latest cryptic hint about a planned April 2 announcement of reciprocal duties on global trading partners.

US trading partners have raced to secure carveouts ahead from the levies Trump has placed at the center of his economic agenda, but the president indicated that they would be tough to secure. Trump has promised a sweeping tariff announcement next Wednesday, touting it as a "Liberation Day" against trading partners he has long accused of "ripping off" the United States.

This came as the United States added six subsidiaries of Inspur Group, China's leading cloud computing and big data service provider, and dozens of other Chinese entities to its export restriction list.

The Inspur units were listed for contributing to the development of supercomputers for the Chinese military, the Commerce Department said.

Five of the subsidiaries are based in China and one in Taiwan. Inspur Group itself was placed on the list in 2023.

The listings are intended to restrict China's ability to develop high-performance computing capabilities, quantum technologies and advanced artificial intelligence, and impede China's development of its hypersonic weapons program.