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US President Donald Trump was threatening a 50% tariff on copper imports starting Aug 1, 2025. The on-again, off-again threat of tariffs has evoked a full range of reactions from high anxiety to ennui. Maximo Pacheco, chairman of Codelco, the world's second largest copper producer, was taking a wait-and-see approach, saying it's too soon to draw conclusions three weeks before the deadline. The Copper Journal, one of the most trusted sources for copper information, reported a "profound impact on copper markets. The flow of metal into the US is staggering. Copper held in Comex warehouses has climbed 203,531 mt from 8,936 mt last year to 212,467 mt last week, and this is just a small portion of refined imports. Over the past three months, nearly 740,000 mt have arrived here, and more is on the way in an attempt to beat the Aug 1 deadline." Spot prices for copper on the COMEX, the leading platform for trading futures for metal prices, soared $0.66/lb price to $5.65, the single largest one-day price increase. How this will help American consumers remains a mystery, especially to those who understand metals markets.