In a significant move, President Trump has made U.S. copper mining a central element of his domestic minerals policy, initiating a probe into copper imports that could lead to potential tariffs. This inquiry, which is part of a broader Section 232 investigation, aims to address national security concerns regarding copper imports. As a result, stocks associated with copper mining, particularly Freeport-McMoRan, have seen notable increases. The prospect of tariffs has prompted a global race to supply copper to the U.S., with various nations, including China and Japan, reacting to these developments. Analysts predict that tariffs could reach as high as 25% by the fourth quarter, raising questions about the impact on domestic industries and global copper prices. The White House has emphasized the importance of domestic copper resources as the market faces challenges from increased demand, particularly in light of disruptions in copper production from Chile and ongoing trade tensions.