Trump Signs Sweeping Tariffs on Copper Products, Sparking Market Reaction
On Wednesday, Donald Trump signed a series of decrees reinstating massive tariffs, including a 50% tax on imported semi-finished copper products, effective this Friday. This measure, justified in the name of national security, does not affect raw copper but targets products such as wires, pipes, cables, or electronic components.
Market Reaction
The market reaction was swift: copper prices plummeted by 20% on the New York Metal Exchange. Canada, the second-largest supplier to the US market after Chile, is among the most exposed countries.
End of Duty-Free Exemption
In addition, Trump ended the duty-free exemption for packages worth less than $800, targeting shipments from Mexico and Canada, citing the fight against fentanyl.
Brazil and India Targeted
The US President also formalized a 50% surtax on Brazilian goods, citing political reasons related to accusations against Jair Bolsonaro. India, meanwhile, is threatened with tariffs for its economic ties with Russia.
