Trump Tariffs: Here is how much Aluminium, Copper, Zinc the US imports from Canada and Mexico

Prices of base metals have seen a sharp fall on the LME after US President Donald Trump imposed a 25% tariffs on goods from Canada and Mexico. Prices of copper, steel and Zinc are down between 1% to 3% on the London Metal Exchange (LME) post the tariff imposition.

The tariffs, including a 10% levy on China, will take effect from 12:01 AM on Tuesday, US time.

Experts believe that this tariff imposition will plunge both the Mexican and Canadian economy into a recession. Nearly 75% of the annual exports from both these countries go to the US.

On the flip side, 16% to 18% of US annual exports are sent to Canada and Mexico.For metals, the US is a net importer of Copper, Aluminium and Zinc.

The US imports 36% of its copper requirement from Canada, Mexico. Copper Comex prices are trading at a 6% premium currently to the LME.82% of the refined demand in Aluminium for the US is imported. Post the tariff levy, the Aluminium industry had urged the President to spare Aluminium from the tariffs. 60% of these imports come from Canada and Mexico.

Canada also accounts for 64% of the unwrought Aluminium, or that metal, which is not shaped into a finished product. Post these measures, the Comex Aluminium premium has surged to the highest level in a year.

The US also imports 67% of its Zinc requirement and 50% of that supply comes from Canada.

Lastly, 17% of the US steel demand is met through imports and almost 40% to 50% of that comes from Mexico and Canada.

The fall in global metal prices along with the tariff uncertainties has also sent shares of Indian metal companies lower. The index is trading 4% lower with losses led by shares of Vedanta and NALCO.