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2025-08-01 01:59:47
[US Announces 50% Tariff on Copper Imports, NYMEX Copper Futures Plummet 20%] According to a fact sheet published on the White House website on July 30th, US President Trump signed a proclamation imposing a 50% tariff on imported copper semi-finished products and derivatives with high copper content, effective August 1st. On July 30th, copper futures on the New York Mercantile Exchange plummeted 20% in a single day. US media analysts described this decision as the latest major shock to the copper market from the US government. Earlier this year, when US President Trump first mentioned the possibility of tariffs, US copper prices surged and triggered a rush to ship copper to the US to avoid them. Earlier in July, Trump announced the 50% tariff, double market expectations, sending copper prices to record highs.
