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Copper scrambles on Trump’s move. A tariff shock and China’s gain - Jul 10, 2025
Global copper traders are rerouting shipments to China after U.S. President Donald Trump announced a 50% import tariff on copper, effective August 1st. The tariff aims to boost domestic production but has sparked a scramble among exporters, especially in Latin America, to divert cargoes before the deadline. China, the world’s largest copper consumer, is seeing a sharp uptick in offers. Chilean mining giant Antofagasta says Trump’s copper tariff could revive its stalled U.S. project in Minnesota. CEO Ivan Arriagada views the protectionist move as a long-term opportunity, even as precise…
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