Trump says 50% copper tariff to take effect Aug. 1
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President Trump is pushing through with his tariff agenda, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.
President Trump wants America to produce more of the much-needed mineral, but a 50 percent tariff could undermine his aim of a manufacturing renaissance.
Donald Trump's copper tariff plan is creating worries. It may severely affect Canadian copper exports. Experts say China could gain a trade advantage. Quebec's economy, heavily reliant on copper, faces potential job losses.
Copper shipments into the United States are expected to accelerate in the coming weeks in a final scramble to get metal across the border before U.S. President Donald Trump's higher than expected 50% tariff on imported copper takes effect.
“The U.S. has been sucking in lots of copper that it didn’t really need from around the world,” Albert Mackenzie is a copper analyst at Benchmark Mineral Intelligence. President Trump had signaled that the tariffs were coming months ago, prompting many U.S. buyers to stockpile copper ahead of time.
Chile, the world's biggest copper producer, said Wednesday it was awaiting an "official" follow-up on US President Donald Trump's announcement of a 50 percent tariff on imports of the metal. State-owned copper giant Codelco,
U.S. President Donald Trump's 50% tariff on copper has placed a record premium on prices of the metal in the United States that is likely to ease over the coming months as a stockpile created by traders anticipating the levy works through the system.
President Donald Trump said he is considering 50% tariffs on imports from Brazil over the prosecution of its former president. The post Trump pledges 50% tariff on goods from Brazil appeared first on FreightWaves.