Several trade unions have expressed concern following the announcement by the US president to impose tariffs on various metals, including copper, the main export product of the South American nation.
US President Donald Trump has shared his intentions to impose tariffs on copper. “I'm going to impose tariffs on steel, aluminum, copper and things that we need for our military. We have to bring production back to our country,” said the US president.
In response to these threats, the Chilean government confirmed to Diario Financiero that it has established a working group to analyze how Chile's main trade flows with the United States could be affected.
"We believe that the relationship with the United States is very positive from a commercial point of view," said Foreign Minister Alberto van Klaveren.
Trump threatens copper tariffs
For her part, the president of the Confederation of Production and Commerce (CPC), Susana Jiménez, reacted to the president's statements and said that "obviously, we view with concern any pronouncement on the matter, because it is not even an announcement."
However, given the magnitude of copper in Chile's export portfolio, a tariff "would have significant repercussions, as would any type of protectionist measures, which could affect the future of these economies that are so important for the country," she added.
Likewise, the president of the Chilean Mining Chamber, Manuel Viera, expressed his concern about this announcement.
“We must consider that the United States is the second largest buyer of copper produced in the country, reaching 11.3%, preceded by China, with 51.3%. However, these revenues are not insignificant, since last year, shipments worth US$50,858 million were made, representing 50.1% of Chile's total shipments,” said Viera.
According to a report by Subrei, copper accounted for 50.8% of Chile's total exports in 2024. Concentrated shipments amount to US$ 31,551 million, an increase of 30.1% compared to 2023.
In turn, the United States Geological Survey (USGS) indicates that the country's refined copper imports amounted to 890 thousand tons, of which Chile contributed 570 thousand, or 64%.
For its part, ProChile details that in 2024, the US accounted for 11.3% of Chilean copper exports. Meanwhile, ships to China accounted for 52%.
Cathodes, the main export to the North American country, account for US$17,273 million, an increase of 2% compared to 2023.
In this context, former advisor to the Chilean Copper Commission (Cochilco), Raúl Campusano, said that the imposition of tariffs, if implemented, could lead to a drop in demand from the US and a possible increase in dependence on Asia.
However, there are still no concrete measures and it is a very broad announcement.
