Copper prices in the US soared to a record high following a proposed 50% tariff on imports announced by Donald Trump. The futures jumped over 10% to $5.682 a pound, although they slightly decreased afterward. Trump's tariffs have created uncertainty, with conflicting timelines and percentages being announced. The impact of these tariffs is expected to be significant across the US economy, raising costs for sectors utilizing copper, such as automotive and renewable energy industries. Meanwhile, international prices fell due to concerns about reduced global demand.
Copper prices in the US surged to an unprecedented high after the announcement of a 50% tariff on imports, with futures surpassing $5.682 a pound.
The imposition of a significant copper tariff is projected to raise costs across multiple sectors of the US economy, impacting various industries reliant on the metal.
Collection
[
|
...
]