Robert Friedland praised Trump’s 50% copper import tariff as crucial for U.S. national security and for boosting domestic production, according to The Financial Times. Despite concerns over the U.S.’s reliance on imports, he called it a necessary move to reduce vulnerability and support critical industries, such as defense and green energy. They write:
Billionaire mining entrepreneur Robert Friedland welcomed US President Donald Trump’s vow to impose a 50 per cent tariff on copper imports, arguing that domestic production of the metal was “fundamental to America’s national security”.
Analysts and other executives have questioned the logic of imposing such a high levy when the US remained so dependent on imports of the metal, but the founder of Toronto-listed Ivanhoe Mines said the move was needed to “wake people up” to America’s vulnerability. […]
“We’re going from a just-in-time integrated world economy . . . to a just-in-case world economy and the administration raising tariffs on critical raw materials is a just-in-case move,” he added. “Just in case we have a war, we have to have enough raw material to deal with it.”
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Future Minerals Forum: Robert Friedman Presentaion – January 22, 2025
