Trump administration plans to impose 50% tariff on copper pipes and wiring | Trump tariffs
The Trump administration announced its plans to bring a 50% tariff to copper pipes and cables, and the details of the tax exceeded US prices after the expected comprehensive restrictions have fallen less.
By leaving copper entrance materials such as solutions, concentrates and cathodes outside, the new policy will be significantly inadequate from Donald Trump’s first threats to present a new tax on the overseas shipments of metal.
The surprise movement reduced US copper prices more than 17% on the Comex Stock Exchange, and London opened a premium on global comparison, which has grown in recent weeks, and shipments were directed with higher domestic prices.
“Markets are revitalizing much lower refined copper re -revitalizing after Trump’s epic return in his own import tariff policy, Tom said Tom Price, a London intermediary panmure liberum analyst.
“Someone finally [Trump] That the US economy cannot meet this new trade hit. “
According to Hudbay Minerals, Arizona Sonoran and others developing mine in the country, Freeport-Mcmoran’s cut tariff is most likely to damage the cut tariff.
The US President first angry in early July, and implied that it would be valid for any red metal, from the cathodes produced by mines and murmur to cables and other finished products.
Nevertheless, in a statement published by the White House, the management said that the tariff will only apply to pipes, tubes and other semi -finished copper products and products where copper is used for production, including cable and electrical components.
In the enforcement decision, Trump concluded that the Trade Secretary Howard Lutnick has concluded that “copper was imported to the US and the United States under conditions that would be threatened to disrupt the national security of the United States”.
The movement helps manufacturers, but it is doing little to increase the limited US Copper Mining industry, which has for years to allow Washington to allow reform or other steps to increase growth.
Tariffs will exclude copper scrap and copper concentrates, mats, cathodes and anodes, copper mines and some of the main products of the trace.
The movement is actually a support for Chile and Peru, two of the world’s largest copper miners and the largest suppliers of the USA.
Reuters contributed to reporting
