Trump Says He’ll Set 50 Percent Tariff on Copper

President Donald Trump has unveiled plans to impose a 50 percent tariff on copper.
At a July 8 Cabinet meeting, the president confirmed to reporters that he will set the levy on shipments of copper entering the United States on Tuesday.
Prices for the industrial metal advanced more than 11 percent to $5.55 per pound following the announcement.
The tariff follows through on the president’s statement made earlier this year. In March, Trump stated that he would impose a levy of up to 25 percent on all copper imports, and urged domestic companies to increase their production of the red metal.
The United States is one of the world’s top copper miners, producing about 1.1 million tons annually. Chile remains the largest copper producer, with 5.3 million tons. This is followed by the Democratic Republic of Congo (2.84 million), Peru (2.76 million), and China (1.83 million)….