US Edition
Trump says he will impose 50% tariff on copper
UNITED STATES, JUL 10 – The 50% tariff aims to protect US industry amid trade imbalances and national security concerns, pushing copper prices to record highs and affecting global supply chains, experts say.
- On Tuesday, President Trump declared a 50% tariff on all copper imports to the United States, triggering a rise in copper futures by more than 12%.
- The tariff follows concerns about growing global copper demand, limited domestic production, and national security risks posed by foreign competitors, notably from major suppliers like Chile.
- Chile, the largest foreign copper supplier to the U.S., has not received formal notification of the tariff and expressed uncertainty about which copper products and countries the tariff targets.
- Copper prices surged by as much as 17% during the day, reaching an unprecedented high of $5.89 per pound, driven by market responses and analyst expectations of increased costs amid rising trade tensions and supply constraints.
- The tariff could intensify the global trade war, impact copper-dependent industries, and raise import costs, while the effective implementation date remains unclear.
327 Articles
327 Articles
How Trump's 50% copper tariff could impact Americans
President Trump said he plans to impose a 50% tariff on copper in a Cabinet meeting on Tuesday as the White House continues to pressure trade partners into deals. CBS News' Nancy Cordes has the latest updates, while Laila Maidan, a reporter for MarketWatch, joins with more details.
Prysmian shares rise as Italian cable maker seen as winner amid US copper tariffs
MILAN (Reuters) -Prysmian shares rose as much as 4% on Wednesday on expectations the world’s largest cable maker’s large U.S. business could benefit from U.S. tariffs on copper, as it sources the metal locally and should be able to pass on higher prices to customers. U.S. President Donald Trump on Tuesday said he would impose new levies, including a 50% tariff on imported copper, broadening a trade war that is rattling markets worldwide. “We con…
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