US EditionTrump says he will impose 50% tariff on copper
UNITED STATES, JUL 9 – President Trump plans a 50% tariff on copper imports to protect domestic industry and will delay pharmaceutical tariffs by up to 18 months, citing national security under Section 232.
- President Donald Trump announced Tuesday that he will apply a 50% tariff on copper imports and intends to implement steep taxes on pharmaceutical products.
- This move follows earlier Section 232 probes into copper and pharmaceuticals launched earlier this year to assess import impacts on domestic industries.
- The tariffs target imports from 14 countries, including key suppliers like Japan and South Korea, while Trump delayed reciprocal tariffs' return to August 1.
- Copper futures rose over 10% to record highs after the announcement, while a Yale Budget Lab estimated the effective U.S. tariff rate rose to 17.6%, the highest in nine decades.
- The tariffs have unsettled markets and prompted warnings of retaliation from the EU, suggesting increased trade tensions and potential economic disruption ahead.
387 Articles
387 Articles
Trump sent copper prices soaring to records with talk of new tariffs. Morgan Stanley flags 2 companies set to benefit.
Aerial view of the Kennecott Copper Mine, which is the largest man-made excavation.YegoroV/ShutterstockTrump's flurry of trade war updates this week included a 50% tariff on copper. The news sent copper prices soaring to records on Tuesday.Morgan Stanley flagged two public companies that are set to benefit from new duties on copper. An unexpected update on the trade war from President Donald Trump sent copper prices soaring this week, and there …
U.S. President Trump imposes high tariffs on copper and threatens with further surcharges on drugs. The hope for a trade deal with the US drives the Dax to a record high. Jürgen Molnar, capital market strategist, analyses the situation in conversation with Dietmar Deffner.
The US wants to prove copper with an inch of 50 percent in order to become more independent of imports. The goal is understandable, the remedy harmful. There are better ways.
‘Huge tailwind’ for copper likely to continue as tariff threat looms: strategist
Strong global demand and a tight supply of copper has raised the price of the metal to record highs this year, and a threat from U.S. President Donald Trump to impose new copper import tariffs will only send prices higher, an expert says.
Hard Numbers: Beijing calls Taiwan’s “bluff”, Copper prices soar, Russia breaks drone attack record (again), wildfire threatens France’s second city
22,000: Taiwan has mobilised 22,000 reservists to carry out its largest-ever military drills this week, with surface-to-air missiles and US-supplied High Mobility Artillery Rocket Systems as part of the maneuvers. When asked about the drills on Tuesday, the foreign ministry in Beijing – which considers self-governing Taiwan a part of China – called the exercises “nothing but a bluff.” 50%: US copper prices surged after President Donald Trump thr…
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