Trump's plan to impose a 50% tariff on copper is said to cover refined copper

President Trump's plan to impose a 50% import tariff on copper will cover all refined copper, reflecting his wide-ranging efforts to boost U.S. production of the material, which is used around the world.

Trump said the copper tariffs would take effect on August 1, but did not provide many details. However, refined copper will be included in the tariffs, according to people familiar with the matter. The people asked not to be identified because they were discussing private discussions.

Refined copper is the largest category of copper imported by the United States, and including it in the tariff list would have wide-ranging effects. Refined copper is critical to power grids, construction, auto manufacturing and consumer electronics. It was previously reported that the plan to impose a 50% tariff on copper is said to cover semi-finished products.

In addition, just hours after Trump unexpectedly announced on Tuesday that he was ready to impose a 50% tariff on imported copper, the White House Council of Economic Advisers met with industry representatives, according to people familiar with the matter. The representatives asked the president not to impose export controls on scrap copper. The United States is one of the world's largest producers of copper scrap, producing more each year than it consumes domestically, with the surplus shipped abroad.

The White House did not immediately respond to a request for comment.

Industry leaders such as miner Rio Tinto, processor Southwire and trader Trafigura have called on the White House to restrict copper ore and scrap exports rather than impose tariffs on imports.