Commodities
Trump’s Copper Tariff Threats Are Already Raising Factory Costs
A worker carries copper at a warehouse in San Diego.
Photographer: Sam Hodgson/Bloomberg
US President Donald Trump’s plans to place hefty import tariffs on copper have already caused a spike in costs for American factories, with New York futures trading 25% higher than other global benchmarks on Tuesday.
The fresh spike in US prices came after Trump said he planned to place a 50% tariff on copper imports, doubling down on a threat he first made in February to impose targeted levies on the crucial industrial metal.