Trump, Copper and 50 tariff
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Trump, tariffs and US economy
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U.S. President Donald Trump's threat of a 50% tariff on copper imports is raising alarm in the U.S. auto sector, as it could make it even harder for carmakers and suppliers to absorb border taxes and rising costs,
Explore the impact of tariffs on U.S. copper markets. Click for risks for Southern Copper Corporation in Peru, and why I suggest a long FCX/short SCCO strategy.
Utah is well-positioned to benefit from a potential new tariff on U.S. copper imports thanks to it's rich natural resources and investment-friendly mining incentives.
Copper is needed for many items we use every day, from wiring and plumbing in our homes to appliances and electronics.
Trump’s promised 50% copper tariffs are set to include all refined metal, indicating the president’s far-reaching efforts to bolster the American production of the metal Bloomberg reported. The tariff,
Higher prices in America suit miners with copper assets in the country just fine. The shares of Rio Tinto and Freeport-McMoRan, an American miner which accounts for 60% of domestic copper production, have risen. For the latter, a 50% duty could result in windfall profits of $1.6bn a year, reckons Deutsche Bank, another lender.
Prices of copper in the US have surged since January, when President Donald Trump threatened to impose a tariff on imports of the metal that’s a vital component in power networks, plumbing and industrial machinery.
Rodrigo Barbosa, Aura Minerals CEO, joins 'Money Movers' to discuss the company's IPO, the impact of tariffs on business and more.