US EditionCopper Set for Weekly Decline After Trump’s Surprise Tariff Move
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3 Articles
Copper Posts Second Weekly Drop After Trump's Tariff Surprise
Copper registered a second weekly decline in London as the market digested the impact of President Donald Trump's shock decision to exempt refined forms of the metal from hefty US import tariffs. The industrial metal steadied on Friday on the London Metal Exchange but was down 1.4% for the week. In the US, where traders had been moving large volumes of copper in anticipation of the tariffs, copper has plunged by more than 20% this week.
Donald Trump signed a proclamation that imposes 50% tariffs on imports of semi-finished products and copper-intensive derivatives, but excludes refined products such as cathodes, the main Chilean export to the U.S. This exclusion was received as a relief by the national industry, especially by Codelco, and is attributed in part to the management of Juan Ignacio Díaz, president and CEO of the International Copper Association (ICA). Díaz stressed …
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