On July 8, 2025, President Trump announced a 50% tariff on copper imports, impacting global markets. This decision aims to boost domestic copper production, a key material for electric vehicles and infrastructure. The move has triggered significant market reactions worldwide.
The announcement, made in the U.S., led to a surge in copper futures. U.S. Comex copper futures jumped over 12%, hitting record highs. Shares of Freeport-McMoRan also rose.
Key copper suppliers, including Chile, Canada, and Mexico, have expressed concerns. The U.S. dollar strengthened, reaching its highest level against the Japanese yen since June 20. The dollar index also increased.
This tariff is part of a strategy to address trade imbalances and promote domestic industries. Market analysts anticipate short-term volatility. U.S. companies relying on imported copper are concerned about rising costs.
The situation is dynamic, with ongoing discussions between the U.S. and its trading partners. (Source: Reuters, Axios, July 8-9, 2025)