President Trump announced a 50% tariff on copper imports on July 8, aligning it with existing tariffs on steel and aluminum, as part of a strategy to bolster domestic industries and strengthen trade negotiations.
This move significantly impacts the copper market, given the U.S.’s reliance on imports for nearly half its copper needs. Copper prices surged over 13% in a single day, the sharpest increase since 1989, creating a divergence from global prices like those on the London Metal Exchange.
Should investors consider buying into copper stocks to capitalize on this development? Two companies with significant U.S. operations stand out as strong candidates.
This post originally appeared at 24/7 Wall St.