The copper tube will be on display at a New York City home reconstruction store on July 9, 2025.
Spencer Platt | Getty Images
president Donald Trump On Wednesday, an order was signed to impose a 50% universal tariff copper Import is his latest metal for import taxes.
U.S. copper prices fell as much as 18% in after-hours trading after the White House announced new tariffs. Copper miner Freeport McMoran and Nangong It dropped by about 10% and more than 6%, respectively.
If the sell-off continues on Thursday’s deal, it will mark the biggest single-day decline in metals since 1989.
According to a new, higher copper price takes effect on Friday Fact sheet Released by the White House.
The Trump administration said the new responsibilities of following the 50% U.S. tariffs already imposed on steel and aluminum are designed to promote domestic industry and address “trade imbalances.”
But experts warn them that Increase prices All products from building materials to electronics make use of multifunctional metals.
According to targets for imported cars, wood and pharmaceuticals, Trump’s other sector-specific tariffs and ongoing trade surveys could reduce overall U.S. growth Tax Foundation.
Copper is the third largest metal in iron and aluminum. Almost half of the copper used in the United States, most of which comes from Chile. American Geological Survey.
This is breaking news. Please check it for updates.
– Spencer Kimball of CNBC contributed to the report.
