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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.
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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.

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US stocks retreat from records on Trump tariff deluge

Stock markets were mixed Monday with US indices retreating from records as President Donald Trump's aggressive trade policy came back to the forefront, reviving worries about trade wars and inflation.

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Business Recorder broke the news in on Monday, July 7, 2025.
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