US Copper Prices Crash Most On Record After Trump Confirms 50% Tariff Excludes Refined Products | Metals Mine

  • US Copper Prices Crash Most On Record After Trump Confirms 50% Tariff Excludes Refined Products

    From zerohedge.com

    U.S. copper futures crashed over 19% within minutes around 2:00 p.m. ET, marking the largest intraday drop on record, after the White House announced a 50% tariff on all semi-finished copper imports starting August 1. Largest daily decline on record! Traders were stunned when copper cathodes, the most widely imported and traded form of refined copper, were exempted from the new duties, triggering a vicious unwinding of bullish bets. The initial expectation had been that the tariffs would apply to all refined imports. President Trump invoked the Defense Production Act, which allows his administration to direct ... (full story)

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    Trump: South Korea is at 25% tariff, but have an offer to buy down. Just concluded a deal with...

    From @realDonaldTrump|Jul 30, 2025|3 comments

    We are very busy in the White House today working on Trade Deals. I have spoken to the Leaders of many Countries, all of whom want to make the United States “extremely happy.” I will be meeting with the South Korean Trade Delegation this afternoon. South Korea is right now at a 25% Tariff, but they have an offer to buy down those Tariffs. I will be interested in hearing what that offer is.We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves. We are in the process of choosing the Oil Company that will lead this Partnership. Who knows, maybe they’ll be selling Oil to India some day!Likewise, other Countries are making offers for a Tariff reduction. All of this will help reduce our Trade Deficit in a very major way. A full report will be released at the appropriate time. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN! TRUMP: OTHER COUNTRIES ARE MAKING OFFERS FOR A TARIFF REDUCTION

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    From whitehouse.gov|Jul 30, 2025

    On June 30, 2025, the Secretary of Commerce (Secretary) transmitted to me a report on his investigation into the effects of imports of copper in all forms (copper), including ...

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