Copper Soars To Record Highs After Trump's 50% Tariff - ConocoPhillips (NYSE:COP)
INDIANA, UNITED STATES, JUL 7 – President Trump announced tariffs up to 25% on Japan, South Korea, and other countries, causing the S&P 500 to fall 0.8 percent from record highs, analysts said.
- President Donald Trump implemented a half-century duty increase of 50% on copper brought into the U.S. beginning July 9, 2025, which propelled copper prices to reach an unprecedented $5.52 per pound.
- This action follows a July 9 administration deadline to finalize trade deals, with tariffs set to rise on August 1 if agreements are not reached.
- Trump also announced additional tariffs on countries including Japan, South Korea, Malaysia, and South Africa, reviving market concerns about trade tensions.
- The tariffs triggered a 10% jump in copper prices, the largest single-day increase the metal has seen since 2008, while major stock indexes retreated from their recent record highs.
- Investors reacted cautiously to renewed tariff threats, suggesting ongoing volatility in markets and highlighting uncertainty around upcoming trade negotiations.
Insights by Ground AI
Does this summary seem wrong?
50 Articles
50 Articles
All
Left
4
Center
13
Right
10
US copper prices rise 13%, the biggest daily rise in its history, following Trump's announcement that it will put a 50% tariff on metal.
·Mexico City, Mexico
Read Full ArticleCopper Soars To Record Highs After Trump's 50% Tariff - ConocoPhillips (NYSE:COP)
U.S. stocks were little changed on Tuesday as investors stayed cautious following a series of letters from the White House to major trading partners, outlining sweeping new tariffs.
·New York, United States
Read Full ArticleWall Street: Trump's tariff letters undo what US job data, Big Beautiful Bill achieved last week
Wall Street slipped on Monday after Donald Trump threatened new tariffs, reviving concerns about global trade tensions and rattling investors who had recently pushed US stocks to record highs.
·Mumbai, India
Read Full ArticleCoverage Details
Total News Sources50
Leaning Left4Leaning Right10Center13Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
15%
C 48%
R 37%
Factuality
To view factuality data please Upgrade to Premium