Copper, Trump and Tariff
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What Happened in Markets Today Copper prices—and mining stocks—rose after Trump confirmed a 50% tariff on the metal will take effect Aug. 1. Prices for the [metal hit record highs](
Chilean copper miner Antofagasta sees opportunity for its stalled copper project in the U.S. following President Donald Trump's move to impose 50% import tariffs on the metal, CEO Ivan Arriagada said on Thursday.
President Donald Trump said his 50% tariff on copper imports will take effect on Aug. 1, noting he made the decision after a national security assessment.
Reports of copper theft from trucks are rising even faster than the price of the metal, which is used in products ranging from cars to construction materials. The benchmark futures price in the U.S. hit an all-time high this week after President Trump said tariffs of 50% on copper imports would take effect on Aug. 1.
President Donald Trump announced on Wednesday night that the United States will impose a 50 percent tariff on copper, effective August 1. Trump wrote on Truth Social that he came to the decision after a "robust NATIONAL SECURITY ASSESSMENT."
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Newly announced tariffs on imported copper might be the Trump administration's most foolish trade policy yet. It is a move that will force American industries to pay significantly higher prices for a metal that is essential for everything from tech manufacturing to homebuilding.
Peru kept interest rates unchanged as its economy comes under threat from Donald Trump’s plan for a 50% copper tariff.