##  [# Copper ETF Hits All-Time High Amid Tariff Threats](/sections/features/copper-etf-hits-all-time-high-amid-tariff-threats) 

 

# Copper ETF Hits All-Time High Amid Tariff Threats

 

 

The tariff play that has roiled stocks and commodities reaches CPER.



 

 

 

 

 [![RonDay](/sites/default/files/styles/author_image_icon/public/2024-01/etf.com_Author_RonDay.png?itok=XBj72rrJ "RonDay")](/contributors/ron-day) 

[By Ron Day](/contributors/ron-day)

 Mar 27, 2025

 Edited by: David Tony

 

 

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Copper is the latest commodity in the Trump administration’s tariff crosshairs, pushing futures to all-time highs and boosting exchange-traded funds that track the metal.

In a move that further stokes inflation concerns, President Donald Trump may levy duties on copper imports in a matter of weeks, [Bloomberg reported](https://www.bloomberg.com/news/articles/2025-03-26/trump-may-implement-copper-import-tariffs-within-weeks), citing sources familiar with the matter. That’s an accelerated timeline for the proposed 25% duties on all imports of the critical metal.

## Copper ETFs Jump

Copper futures early Wednesday jumped more than 3% to a record $5.37 a pound, as tracked by [Comex](https://comexlive.org/copper/).

The biggest [copper ETF](https://topics/copper) rose to another record: The $200.7 million [**United States Copper Index Fund (CPER)**](https://www.etf.com/CPER) jumped more than 3% before paring gains midday Wednesday. It’s gained 30% so far this year.

The [**USCF Daily Target 2X Copper Index ETF (CPXR)**](https://www.etf.com/CPXR), launched in January aiming to double the returns on copper futures, also climbed to another record. It’s jumped 45% since it began trading.

![Copper ETFs](/sites/default/files/inline-images/image%20%283%29_0.png)*Source: etf.com*

 
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## Trade War Stokes Inflation Fear

Copper is the latest import eyed for protectionist measures by the Trump administration, which has launched trade wars with much of the world, including U.S. allies like Europe and Mexico as well as adversaries like China. The mix of threats and actual duties on steel, aluminum and wine imports, aimed at boosting American industry, has sparked reciprocal tariffs from trading partners.

Those moves raised fears of inflation and recession in the U.S. While narrow markets such as copper have jumped this year, broad stock indexes have sagged along with consumer confidence.

The trade war has mostly helped U.S. partners’ stock markets, as U.S. industries rely on imports of raw materials. Chile is the world’s top copper producer, and the $594.8 million [**iShares MSCI Chile ETF (ECH)**](https://www.etf.com/ECH) has surged 23% so far this year.

Investors have put $18.5 million into CPER from March 13 through March 25. [Copper miner](https://topics/copper-miners) ETFs have also gained this year, with the largest, the $2.8 billion [**Global X Copper Miners ETF (COPX)**](https://www.etf.com/COPX) rising 13%.



 

 

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 [ Ron Day Contributing Editor ](/contributors/ron-day) 

 

 

  Ron Day is Contributing Editor at etf.com. He joined the company in October 2022 and has served as Managing Editor, deputy managing editor and…   [View Bio](/contributors/ron-day)

 



 

 


 Related Topics  [Copper Miners](http://www.etf.com/topics/copper-miners) 

 [Copper](http://www.etf.com/topics/copper) 

 [U.S. Government](http://www.etf.com/topics/us-government) 

 [U.S.](http://www.etf.com/topics/us)