US Copper Plunges After Trump’s Tariff Surprise

Market Impact - US treated copper experienced a 22% plunge in two days following President Trump's announcement of 50% tariffs on copper imports [1] - Copper futures in New York decreased by more than 20% after the tariff announcement [3] - The copper market experienced volatility and surprises throughout the year [1] Tariff Details and Expectations - The market initially expected a 25% tariff on copper imports [2] - Trump mentioned a 50% tariff earlier in the month, but details were scarce [2] - The proclamation excluded refined copper, which is heavily traded internationally, surprising the market [3] - Uncertainty existed regarding product coverage and exemptions until the proclamation was released [2]