By Ana Isabel Martinez and Daina Beth Solomon MEXICO CITY/SANTIAGO (Reuters) -President Claudia Sheinbaum said on Wednesday Mexico could redirect the copper it typically sends to the U.S. to avoid tariffs from the Trump administration,

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.

Prices for the metal hit a record high after the president suggested a higher rate than many analysts were expecting.