Trump Says 50% Copper Tariff To Take Effect Aug. 1
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London copper prices edged higher in early trading as the market weighed the impact of Trump’s 50% import tariff on the metal.
President Trump is amping up trade threats, again unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.
President Donald Trump announced a 50% tariff on copper imports on Tueday, a move aimed at bolstering domestic production and reducing U.S. reliance on foreign supplies, particularly from Chile, which accounts for nearly 35% of U.S. copper imports.
U.S. President Donald Trump's 50% tariff on copper has placed a record premium on prices of the metal in the United States that is likely to ease over the coming months as a stockpile created by traders anticipating the levy works through the system.
6hon MSN
Copper futures (HG1:COM) extended their rally on Thursday, rising around 2% as traders reacted to U.S. President Donald Trump’s announcement of a 50% tariff on imported copper, set to take effect on August 1.