Mercuria estimates 500,000 tons of copper are heading to the U.S., driven by potential tariffs, which could push prices to record highs and cause global supply shortages, reports Reuters. Trump’s probe into copper tariffs aims to boost domestic production, with Goldman Sachs predicting a 50%-100% rise in U.S. imports before the tariffs take effect.
U.S. President Donald Trump last month ordered a new probe into possible new tariffs on copper imports to rebuild U.S. production of a metal critical to electric vehicles, military hardware, semiconductors and a wide range of consumer goods.
