Canada will fight back against U.S. President Donald Trump’s 50 per cent tariff on copper imports, Industry Minister Melanie Joly said Thursday.
“We’ll fight against it. Period,” said the minister, without getting into specifics. Trump vowed on Truth Social Wednesday evening the tariff would come into force on Aug. 1.
Trump heralded the metal as the “most used material by the Department of Defense!” in his social media post, promising to bolster an American copper industry that will dominate the world.
The only copper smelter and the only refiner in Canada are owned by foreigners and located in Quebec. Of course they received Government “green” funding. Copper mining will not be affected.
Glencore Canada Corporation is a wholly owned subsidiary of Glencore plc. Glencore plc is a publicly traded company listed on the London and Johannesburg stock exchanges. While Glencore plc owns Glencore Canada, the largest individual shareholder in Glencore is Ivan Glasenberg. Other significant shareholders include Qatar Holding LLC and BlackRock.
