The working group created by the Government of Chile to monitor the economic policies adopted by the President of the United States, Donald Trump, met this Thursday for the second time since its creation in late January. The main concern during the meeting was the potential imposition of tariffs on copper.
Chile is the largest copper producer in the world and supplies about 70% of this raw material to the United States. The American president ordered a review of imports of this metal, known as "red gold," and to evaluate its impact on U.S. national security.
During the meeting, which included the chancellor, the minister of finance, the minister of mining, and other relevant members, the implications of Trump's executive order were analyzed. According to the Chilean foreign ministry, it was a very interesting meeting in which the investigation into copper imports and their impact on U.S. national security was discussed.
The Chilean chancellor stated that Trump's announcement does not imply a tariff, but is a measure aimed at investigating the supply of copper to the U.S. market. Chile, as a traditional and reliable supplier of copper to the United States, is attentive to the progress of the investigation and is willing to provide all necessary information.
Chile is an important producer of critical minerals and has a consolidated mining industry. The minister of mining highlighted the country's reliability as a mineral supplier, emphasizing high quality standards, traceability, and respect for human rights in the industry.
The finance minister emphasized that the special investigation ordered by Trump is not a trade measure, but an analysis of copper supply to the United States. This situation is seen as an opportunity to showcase Chile's strengths as a reliable copper supplier.
Chile's production ranges between 5 and 6 million tons of copper per year and exported 50.8 billion dollars of this metal in 2024. China is the main buyer of Chilean copper, followed by the United States and Japan.
Business groups have called for caution, warning that a tariff on copper would be detrimental to the Chilean economy. Chile and the United States have had a free trade agreement since 2003, which has promoted significant trade exchange between the two countries.
In summary, Chile remains alert to the possibility of a new Trump policy regarding copper, given the importance of this metal in the country's economy and trade relations with the United States.
