Trump's 50% Tariff Unlikely To Boost U.S. Copper Production

Summary

• President Donald Trump last night announced a 50% tariff on copper imports, driving New York futures to a record high.
• Copper in the US is up more than 40% so far this year, with prices continuing to benefit from the front-running of tariffs.
• The key now will be which forms of copper will be affected and whether there will be exemptions for any suppliers.

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By Ewa Manthey

US copper futures hit a record high yesterday – surging as much as 17% – after President Donald Trump announced he plans to implement a 50% tariff on copper imports. The magnitude of yesterday’s spike also set a