Chile, the world's No. 1 copper producer, is in wait-and-see mode after U.S. President Donald Trump announced a surprise 50% tariff on imports of the red metal, with the Andean nation blindsided while its top miner held out hope of exemptions.

Chile, by far the biggest shipper of copper into the US, is waiting for details to emerge following President’s Donald Trump’s bombshell comments on tariffs.

Chile is the largest copper supplier to the US, a market that makes up less than 7% accounts for less than 7% of the South American nation’s refined copper exports. In 2024, Chile exported roughly $5.72 billion worth of copper to the American market, with China remaining its dominant customer.