Trump, copper imports
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The commodity’s price is near a record high because of Trump’s trade war. It might be wise for investors to wait for a dip before easing in.
Shockwaves from Washington's decision to impose a 50 per cent tariff on copper imports are still rippling across the Pacific, and China, the world's largest consumer of the metal, is feeling the effects.
President Trump's imposition of a 50% tariff on copper imports, effective August 1, 2025, addresses national security concerns tied to America's reliance on foreign copper. This move aims to bolster domestic mining and refining,
While the cost of copper is going up for American businesses and consumers, the rest of the world is scratching its head while it enjoys a considerable discount on the price of copper.
U.S. President’s drive to boost domestic production of the metal would take years to achieve, even on a small scale
President Donald Trump said on Tuesday his administration would soon be imposing a new 50% tariff on copper, though he left the exact details unclear. Commerce Secretary Howard Lutnick told CNBC that the tariffs would likely take effect later this month or early August.
The copper market is flashing warning signs of scarcity with spot prices on the London Metal Exchange trading well above the futures.
Glencore has agreed to sell its struggling copper refinery in the Philippines to the family of the country’s richest man, as the smelting industry suffers from weak processing fees.