Group 1 - Freeport-McMoRan expresses optimism regarding U.S. government policies recognizing the importance of domestic mining [1] - The company highlights the necessity of a strong domestic mining industry to reduce reliance on foreign copper sources, which is critical for defense, infrastructure, and technological innovation [1] - The U.S. government, through a recent announcement, has imposed a 50% tariff on various imported copper products effective August 1 [1] Group 2 - The announcement specifies that semi-finished copper products and copper-intensive derivatives will be subject to the new tariffs, while certain copper input materials and scrap are exempt from these tariffs [1]

Group 1 - The U.S. government announced a 50% tariff on various imported copper products, effective from August 1 [1][2] - The tariff applies to semi-finished copper products and copper-intensive derivatives, while certain copper input materials and scrap are exempt [1] - The announcement was made under the authority of the Trade Expansion Act of 1962, citing national security concerns [1] Group 2 - Following the tariff announcement, copper prices in New York fell by over 18% [2] - The imposition of tariffs is expected to significantly increase costs for U.S. manufacturers, potentially impacting the manufacturing sector adversely [2]