Chilean Government Prepares for Possible Copper Tariff Scenario

---

Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Chile's president said his administration is trying to anticipate the U.S. imposition of copper tariffs, though Chile has not been directly threatened.

Chilean President Gabriel Boric said his country is preparing for possible U.S. tariffs on copper as part of President Donald Trump's trade war.

Boric highlighted the creation of an executive board to study the possible scenarios of a U.S. tariff on Chilean copper and alternatives to face them. The study from the executive board is expected for November this year, though Chile is trying to anticipate any impact.

"Although Chile is not directly threatened today, we believe that all necessary precautions must be taken," said the Chilean president.

The decision follows Trump's signature in February of an executive order to investigate the national copper industry and consider copper tariffs in response.

Chile is by far the world's largest copper producer, with an output of 5.5 million tons in 2024. China was the largest recipient of Chilean copper exports in 2024, accounting for 53.7% of the volumes, followed by Japan with 10.7%, and the United States in third place, representing 10.3% of the shipments, based on Comisión Chilena del Cobre's (Cochilco) data.

According to the United States Geological Survey (USGS), the United States produced 1.1 million tons of copper in 2024 and imported 810,000 tons of refined copper.

Chile accounted for 65% of the United States imports of refined copper between 2020 and 2023, based on USGS data.

A tariff on Chile's copper will push the South American nation to seek other clients for its products, probably in Asia.

Boric also talked about his visit to India in April, in which he aims to expand his nation's economic ties and where mining, including copper, will likely take a central role.

"Chile has the duty to anticipate (the impact of tariffs) because we have also seen how untimely the decisions of the northern country (the United States) can be during this mandate," said Boric.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).