President Trump will impose a 50% tariff on imported copper, effective August 1. This decision has led to copper prices rising 25% higher in New York compared to London. Tariffs are expected to impact American businesses by increasing copper costs while other countries benefit from lower prices. Analysts argue that the U.S. is unlikely to become self-sufficient in copper production due to limited smelting capacity, high costs of constructing new smelters, and unacceptable margins for potential investments in the industry.
"Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many."
"The price of copper is now 25% higher in New York than it is in London, according to Bloomberg."
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