5Foto© ndtvprofit.comHindustan Copper, Vedanta And Other Copper Stocks Swing After Trump’s 50% Tariff Plans
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President Donald Trump said he will announce a 50% tariff on copper on Tuesday, hoping to boost US production of a metal critical to electric vehicles, military hardware, the power grid and many consumer goods.
US Comex copper futures jumped more than 12% to a record high after Trump announced the planned tariffs, which came earlier than the industry had expected, and the rate was steeper.
Trump told reporters at a White House cabinet meeting that he planned to make the copper tariff announcement later in the day but he did not say when the tariff would take effect.
“ I believe the tariff on copper, we're going to make 50%,
Donald Trump,
Trump says US to impose 50% tariff on copper imports