Chile, the world's largest copper exporter to the United States, is awaiting official communication from the U.S. government regarding the potential imposition of a 50% tariff on copper imports announced by President Donald Trump. Chilean President Gabriel Boric has expressed that the country will withhold formal response until receiving detailed information, including whether copper cathodes will be included in the tariffs. Industry representatives, such as Jorge Riesco, president of the Chilean National Mining Society (SONAMI), have highlighted the potential economic impact, estimating a loss of approximately $1.6 billion in annual mining GDP. Riesco also emphasized the need for internal consensus and strategic responses to mitigate the effects, including exploring alternative markets. Both Chile and Mexico are reportedly looking toward new markets ahead of the possible tariff implementation. The tariffs have raised concerns given copper's essential role in industrial processes in the U.S. President Boric reaffirmed the importance of the U.S. as a key partner and expressed hope that U.S. policymakers align with Chile's position. The announcement has sparked political tensions, with President Trump criticizing Boric, labeling him a communist and underscoring the tariffs as a measure that directly impacts Chile's economy, which accounts for about 25% to 30% of global copper production and exports.