Group 1 - The U.S. government announced a 50% tariff on imported semi-finished copper products and copper-intensive derivatives, effective from August 1 [2][3] - The new tariffs are part of a broader strategy to boost domestic industries and address trade imbalances, following previous tariffs on steel and aluminum [3] - Copper raw materials and scrap are exempt from the new tariffs, and the tariffs will not be combined with additional tariffs on automobile imports [3] Group 2 - Following the announcement, copper prices in New York plummeted over 18% within minutes [3] - The U.S. government has invoked the Trade Expansion Act of 1962, specifically Section 232, allowing tariffs for national security reasons [3] - The White House has mandated that 25% of high-quality copper scrap and raw copper products must be sold domestically, although this is not expected to have immediate significant impact [3]

Group 1 - The U.S. government announced a 50% tariff on imported semi-finished copper products and copper-intensive derivatives, effective from August 1 [1][2] - The new tariffs are part of a broader strategy to boost domestic industries and address trade imbalances, following previous tariffs on steel and aluminum [2] - The tariffs will not apply to copper raw materials and scrap, which are exempt from the "Section 232" provisions [1][2] Group 2 - Following the announcement, copper prices in New York plummeted over 18% within minutes [2] - The White House indicated that these copper tariffs will not be cumulative with additional tariffs on automobile imports [2] - There is a requirement for 25% of high-quality copper scrap and raw copper products to be sold domestically, although this is not expected to have immediate significant impact [2]

Core Viewpoint - The U.S. government has announced a 50% tariff on imported semi-finished copper products and copper-intensive derivatives, effective from August 1, which may significantly increase costs for U.S. manufacturers and impact the manufacturing sector negatively [1][2]. Group 1: Tariff Announcement - President Trump announced a 50% tariff on all copper imports starting August 1, excluding raw copper and copper scrap from the "232 clause" or reciprocal tariffs [1]. - The new tariffs are part of a broader strategy to boost domestic industries and address trade imbalances, following previous tariffs on steel and aluminum [2]. Group 2: Market Reaction - Following the exclusion of the main refined copper import form from the tariff plan, New York copper prices plummeted over 18% within minutes [2]. Group 3: Domestic Processing and Export Restrictions - The White House has mandated that 25% of high-quality copper scrap and raw copper products must be sold domestically, although this restriction is not expected to have a significant short-term impact, as approximately 40% of U.S. copper scrap and 75% of copper concentrate are already processed domestically [2].