Spring and Wire Product Manufacturers NAICS 3326

Jul 18, 2025 - Copper Prices Soar on New Tariff Threat

• President Trump in July announced new tariffs on copper imports, causing copper prices to soar to a new all-time high, The Wall Street Journal reports. Trump set an August 1 deadline for imposing a 50% tariff on copper – used to make copper springs and wire – joining steel and aluminum, which are also subject to 50% levies. Copper shipments into the US are expected to accelerate in the coming weeks as companies scramble to get the metal into the country before the 50% tariff goes into effect, according to Reuters. With imports totaling 810,000 metric tons in 2024, the US is a net importer of refined copper, according to the US Geological Survey. Chile supplies 65% of US imports, followed by Canada (17%), and Mexico (9%). Refined copper accounted for 88% of all unmanufactured copper imports.
• US manufacturers have much to lose in a trade war between the US and its largest trading partner Mexico, The New York Times reports. During his campaign, President-elect Donald Trump vowed to slap 25% tariffs (or higher) on all goods from Mexico unless it stopped the flow of migrants and drugs to the US. While Mexico depends heavily on trade with the US – exporting some 80% of its goods to America – it accounted for nearly 16% of overall US exports in 2022, according to the Office of the US Trade Representative. Tariffs on Mexico and China, another Trump target, would have widespread ramifications for manufacturers, making it more expensive to produce goods that use foreign materials and components. And if other countries respond with retaliatory tariffs, it could also make it more expensive for manufacturers to export goods to foreign markets, according to Manufacturing Dive.

• Shop floor injuries needn’t be serious to be costly. In its 2024 Injury Impact Report, the insurer The Travelers Companies found the most common workplace accidents accounted for the majority of claim costs. The most frequent causes of injury identified in the report included overexertion (29% of claims analyzed); slips, trips, and falls (23%); being struck by an object (12%). Those injuries were also the top drivers of severe claims, defined as $250,000 or more. Slips, trips, and falls, which include falls from height, topped that list. Injuries related to overexertion can result in extended absences with injuries like dislocations having the highest number of average lost-time days at 142 days, followed by fractures (92 days), and inflammation (85 days). Improving shop floor ergonomics, eliminating trip/fall hazards, and material handling mishaps are three areas metal fabricators can focus on to reduce injuries and time lost.
• Producer prices for spring and wire product manufacturers rose 1.4% in May compared to a year ago after climbing 5.8% in the previous May-versus-May annual comparison, according to the latest US Bureau of Labor Statistics data. Industry producer prices are rising this year amid increases in input costs, including metals and labor. Employment by hardware, spring, and wire product manufacturers fell 4.6% year over year in April, while average wages at fabricated metal manufacturers rose 4% YoY in May to $27.03 per hour, down slightly from their record high in April, BLS data show. Despite declining sales by the fabricated metal products industry, after-tax profits jumped 39.4% in the fourth quarter versus Q4 2024 but fell by 15.2% from Q3, Census Bureau data shows.