Goldman Sachs 'surprised' as Trump's copper tariffs exclude refined metal

From msn.com

President Trump's decision to exempt refined copper from an import tariff is a "surprise," but the move is not expected to alter market fundamentals, Goldman Sachs analysts said Thursday. Trump went ahead with 50% tariffs on copper imports but exempted refined metals, which are the mainstay of international trading, and the move sparked a record plunge for U.S. prices after a period of large profits for traders who hurried metal to the U.S. before the tariffs kicked in. In a single session, the announcement on copper tariffs wiped out Comex's large premium over the London Metal Exchange; the Comex copper contract ... (full story)