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Copper Tariff U-Turn Sends Both Relief, and Shockwaves Through U.S. Supply Chains
In an 11th-hour reversal, the White House has exempted refined copper products, including cathodes, scrap and concentrates, from a looming 50% import tariff. Effective August 1, 2025, copper tariffs will only apply to semi-finished copper goods The surprise exemption caught metal markets off guard and sent U.S. copper prices into freefall. COMEX copper futures plunged over 17% after the announcement, erasing a hefty premium over London Metal Exchange prices that had built up in anticipation of a broader tariff. This means that traders who rushed to import refined copper ahead of the deadline are now sitting on ... (full story)