Trump proposes 50% copper tariff, boosting home repair and energy prices

A newly announced A 50% tax on copper might increase expenses for items such as pipe fixing and solar energy systems, and it's sparking fresh worries regarding rising prices.

Copper can be found in many areas of your house without you even noticing, such as in the refrigerator located in your kitchen, the solar panels situated on your rooftop, and particularly within the walls themselves. These walls frequently contain copper wiring and piping responsible for electrical systems and water supply.

Paola Arrizon serves as the field manager and is one of the co-founders of Doctor House Inc. a plumbing business based in San Diego

It's our fundamental component," Arrizon stated. "Whether we're buying new pipes or simply needing to purchase the connectors or bends, or any of the minor joints that require handling, it must be made of copper to ensure high-quality performance.

Long before the tariff was disclosed, Arrizon mentioned that she had already noticed a significant increase in material expenses.

She stated, 'There has been approximately a 30% rise compared to the previous quarter with regard to what I am seeing for this one.' 'This 30%,' she added, 'is likely to surge dramatically.'

In addition to plumbing systems, various daily necessities such as electric vehicles and solar panels rely on copper. Alan Gin, an economics professor at the University of San Diego, noted that over half of the copper consumed in the United States comes from imports, primarily from Canada and Chile.

"This will ultimately result in increased expenses for producers, who will attempt to transfer these costs to buyers," Gin stated.

Donald Trump mentioned in a post on Truth Social that one objective is for the United States to manufacture all of its copper domestically. Gin stated that this is feasible, although it won't be accomplished overnight.

To acquire additional production capability, that will require several years," he stated. "Essentially, you need to establish a mine first, and then extract the copper.

At Doctor House Inc., Arrizon stated her company intends to avoid increasing costs for clients, although this does not imply the business itself will be unaffected.

We're going to attempt to maintain all our outside costs unchanged: materials and labor," she stated. "It's within our internal operations where we'll face the most significant challenges.

The metal tax is set to come into force on August 1st.