Copper prices have spiked in the U.S. What does that means for consumers and the economy?

WBUR | By Here & Now Newsroom

Published July 10, 2025 at 10:59 AM CDT

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An employee monitors the 8mm diameter copper cable which is rolled up before passing through a rolling mill to become cable at the Nexans manufacture in Lens, northern France, on May 11, 2022. - (Denis Charlet/AFP via Getty Images)

The U.S. price premium surged past the global benchmark to hit record highs this week, in reaction to President Trump’s proposal to place a 50% tariff on copper imports.

The metal is a crucial component in a dizzying array of goods and infrastructure, from cutting-edge military equipment to the pots and pans Americans use to cook their meals. And the U.S. imports about half of the copper it uses annually.

Here & Now‘s Scott Tong speaks with MSNBC host and chief economic correspondent Ali Velshi.

This article was originally published on WBUR.org.