Mining Billionaire Welcomes Trump Tariffs on Copper

Mining billionaire welcomes Trump tariffs on copper

Robert Friedland of Ivanhoe Mines told the BBC the 50% tariffs would help re-establish the US copper mining industry.

Mining billionaire welcomes Trump tariffs on copper - Kahawatungu

A leading North American mining entrepreneur, who wants to open his own US copper mine, has welcomed plans for a 50% tax on copper imports. Robert Friedland, the billionaire founder of Vancouver-based Ivanhoe Mines and Ivanhoe Electric, told the BBC the tariffs would help re-establish the US copper mining industry. US President Donald Trump has already introduced steel and aluminium tariffs and a 50% copper tariff is due to come in on 1 August. …

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On New York’s Comex, copper prices fell sharply after Chile’s finance minister said he’d ask Washington to exempt his country from the new levy. At the same time, U.S. phone shipments in Q2 rose by just 1%. At its weakest, Comex copper dropped as much as 6.2% to $5.4265 per pound before recovering some losses. Bloomberg reported that Chile, which supplies roughly half of America’s imported copper, saw the market sell off after Mario Marcel told …

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Copper-Laden Ships Race To Reach U.S. Ahead Of Tariffs

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