US Edition
Impact of Tariffs Not Temporary, World Will Not Go Back to Status Quo: SM Lee
UNITED STATES, JUL 15 – The 50% tariff aims to reduce U.S. reliance on foreign copper and support domestic mining amid forecasts of a 6-8 million tonne global copper supply deficit by 2030.
- President Donald Trump announced a 50% tariff on copper imports effective August 1, 2025, following a national security assessment.
- This tariff follows paused tariffs and comes amid uncertainties about exemptions and enforcement, while world markets prepare for tariff day.
- The tariff disrupts trade, causing reduced copper purchases, shipment cancellations, and heightened customer caution in the U.S. metals industry.
- Senior Minister Lee Hsien Loong said, "The world will not go back to status quo" before American tariffs, urging collaboration among like-minded countries.
- The tariff likely entrenches protectionism, making rollback politically difficult, and emphasizes the need for stronger international trade cooperation.
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According to one economist, the impacts could be significant in Quebec.
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Total News Sources20
Leaning Left3Leaning Right3Center2Last UpdatedBias Distribution38% Left, 38% Right
Bias Distribution
- 38% of the sources lean Left, 38% of the sources lean Right
38% Right
L 38%
C 25%
R 38%
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