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Chileans slam US for imposing tariffs on cooper imports

China

China

China

Chileans slam US for imposing tariffs on cooper imports

2025-07-26 15:11 Last Updated At:23:47

Industry insiders, scholars and ordinary people in Chile, the world's largest copper producer and the largest copper supplier to the United States, have voiced their strong opposition to the U.S. decision to impose tariffs on copper imports.

U.S. President Donald Trump announced a 50 percent tariff on copper imports starting on Aug. 1.

Chile is an important mining power in Latin America. It ranks first in the world in terms of copper reserves, production and export volume. According to the mining export data released by the Central Bank of Chile, Chile's copper exports reached 50.858 billion U.S. dollars in 2024, accounting for more than half of the country's total exports.

In 2024, copper exported to the United States accounted for 11.1 percent of Chile's total copper production, and 65 percent of the refined copper imported by the United States came from Chile.

In response to the unilateral announcement by the U.S. side, people from all walks of life in Chile said that the U.S. tariff policy has led to a short-term increase in copper prices and an unease in the copper industry, and the United States is abusing tariff measures.

"All of this is due to the unilateralism implemented by the United States, which deviates from the rules of good coexistence in international trade. The United States has not followed the World Trade Organization's rule framework for resolving disputes," said Roberto Alvarez, a professor of the Faculty of Economy and Business of University of Chile.

"Now, everyone in Chile is saying that this is an unfair practice towards the copper industry. In our words, it means being 'apachado (crushed)'. That is to say, the United States today is practically the bully of the neighborhood," said Manuel Viera, president of Chilean Mining Chamber.

"In my view, the U.S. side's almost threatening stance is fundamentally ineffective. This not only affects the Chilean market, but on a global level. I believe it also shows a hostile attitude. This will not solve any problems," said Benjamin Mardones, a resident.

Chileans slam US  for imposing tariffs on cooper imports

Chileans slam US for imposing tariffs on cooper imports

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025

China's aggregate social financing maintains high growth in 2025

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