{"id":1545888,"date":"2025-07-08T17:24:45","date_gmt":"2025-07-08T21:24:45","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1545888"},"modified":"2025-07-08T17:24:45","modified_gmt":"2025-07-08T21:24:45","slug":"copper-soars-to-record-high-as-trump-unleashes-50-tariff","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/copper-soars-to-record-high-as-trump-unleashes-50-tariff\/1545888\/","title":{"rendered":"Copper Soars To Record High As Trump Unleashes 50% Tariff"},"content":{"rendered":"

Copper Soars To Record High As Trump Unleashes 50% Tariff<\/span><\/p>\n

\n

Is President Trump ‘weaponizing’ copper?<\/p>\n

Just over two months ago<\/a>, we noted that drastic tightening of the Chinese copper markets <\/strong>and since then, copper stocks in China have continued to dwindle as stocks of copper at COMEX (US) have soared<\/strong>…<\/p>\n

<\/a><\/p>\n

With COMEX copper stocks now at seven year highs<\/strong> while Chinese stocks are at multi-year lows…<\/p>\n

<\/a><\/p>\n

With that as background, President Trump said Tuesday that he plans to set a 50 percent tariff on copper imports<\/strong>, as part of a set of looming sectoral tariffs, while also indicating he could offer pharmaceutical manufacturers at least a year before implementing levies on their foreign-made products.<\/p>\n

Trump told reporters during a Cabinet meeting on Tuesday he was still planning tariffs on select industries, including drugs, semiconductors, and metals.<\/p>\n

\u201cI believe the tariff on copper we\u2019re going to make it 50%,\u201d <\/strong><\/em>Trump said when asked by a reporter what the rate on those products would be.<\/p>\n

That effort is separate from Trump\u2019s other effort to announce new country-specific tariff rates, which would not apply to products hit under his Section 232 efforts.<\/p>\n

Copper futures in New York surged as much as 17% after Trump\u2019s comments, the largest intraday gain in data going back to at least 1988…<\/p>\n

<\/a><\/p>\n

…pushing the US price for the metal to a new record high…\u00a0<\/p>\n

<\/a><\/p>\n

Trump had directed the Commerce Secretary in late February to open an investigation into foreign copper imports under Section 232 of the Trade Expansion act and submit a report within 270 days.<\/p>\n

The act gives the president broad authority to impose restrictions on national security grounds.<\/p>\n

So, with Chinese stocks dwindling and US stocks soaring, ‘tariff-ing’ Copper right now is interesting in its timing…<\/strong><\/p>\n

The US won\u2019t be able to produce any more copper to offset the shortfall – it takes years to set up a copper mine, though there\u2019s plenty in the ground. <\/em><\/p>\n

US copper smelters though have struggled to compete with lower-cost smelters in China.<\/em><\/p>\n

Copper is vital for housing, electronics and cars, both EV and conventional ICE vehicles.\u00a0<\/em><\/p>\n

…remember, there’s no coincidences in Washington.<\/strong><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 07\/08\/2025 – 13:24<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/commodities\/copper-soars-record-high-trump-unveils-50-tariff<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Copper Soars To Record High As Trump Unleashes 50% Tariff Is President Trump ‘weaponizing’ copper? Just over two months ago, we noted that drastic tightening…<\/p>\n","protected":false},"author":0,"featured_media":1545889,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1545888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6u9G","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2025\/07\/bfmA7C9-yyq2TX.jpg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1545888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1545888"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1545888\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1545889"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1545888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1545888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1545888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}