Trump Sets 50% U.S. Tariffs On Copper
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Copper futures rose dramatically following President Trump's plan for a 50% import tariff, pushing domestic prices to a 25% premium over global markets amid growing demand.
U.S. President Donald Trump announced on Wednesday a 50% tariff on copper, saying on social media that it would be effective August 1 and that the decision was made after a national security assessment.
U.S. President Donald Trump's announcement of a proposed 50% tariff on copper imports has raised concerns in Chile and Peru, which together account for nearly 40% of global copper production.
Trump said on Tuesday that he would impose a 50% tariff on copper. Though the remarks were light on specifics, his comments sent the metal to all-time highs.
Comex copper turns lower a day after President Trump announced a higher than expected 50% tariff on copper imports that caused a record spike in US futures and a drop in the global benchmark
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Fed minutes and copper are in focus Wednesday as stocks look to shake of tariff anxiety and rally to fresh record highs.