Trump slaps universal 50% tariff on copper imports; metal's price plunges
211d ago
Business
CNBC
President Trump has imposed a universal 50% tariff on all copper imports, citing the need to bolster domestic industries and rectify trade imbalances. The announcement sent shockwaves through the global metals market, causing the price of copper to plummet. Critics argue that the tariff will harm downstream industries that rely on imported copper and could lead to retaliatory measures from other countries. The move is part of the Trump administration's broader trade policy aimed at protecting American businesses, but it has raised concerns about its potential impact on economic growth and international trade relations.