US EditionCopper 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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Copper Soars To Record Highs After Trump's 50% Tariff - ConocoPhillips (NYSE:COP)
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·New York, United States
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Wall Street: Trump's tariff letters undo what US job data, Big Beautiful Bill achieved last week
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·Mumbai, India
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