New tariffs apply mostly to semi-finished copper products while exempting refined forms of the metal that comprise the US’ chief copper imports
US President Donald Trump signed an executive order imposing a 50 per cent tariff on certain copper imports – notably excluding refined copper – on Wednesday, sending US copper prices tumbling by around 20 per cent to US$4.44 a pound as of Thursday afternoon.
The move clarified the scope of Trump’s initial announcement in early July, which had led US futures prices to rally to a record high of nearly US$6 and prompted traders to accelerate shipments in anticipation of widespread duties.
In this explainer, the Post examines the differences between the finalised tariffs and Trump’s previous threat, while looking at what the move could mean for global markets.
Trump’s initial threat of a 50 per cent copper levy on July 8 was vague on specifics, but the market had broadly expected it to encompass all forms of the metal, from raw materials to finished products.
