FX.co ★ Copper Prices Slide Amid Trump’s Reciprocal Tariffs

Copper futures plunged by 4% to approximately $4.80 per pound on Thursday, reaching a three-week low. This decline followed US President Donald Trump's introduction of a comprehensive and more assertive reciprocal tariff policy, heightening concerns over a potential global trade war. Trump has implemented an additional 34% tariff on China, increasing the total tariffs on the country to 54% and adding uncertainty to the economic forecast for China, the largest consumer of copper globally. Other significant economies facing these substantial tariffs include the EU (20%), Japan (24%), and India (26%). Concurrently, investors are keenly monitoring updates on the possibility of new US tariffs on copper imports, amid reports that Trump intends to impose these levies within a few weeks, thereby significantly speeding up the original schedule. Initially, copper prices skyrocketed to record highs due to speculation, but have since experienced a sharp decline as uncertainty and a widespread risk-averse attitude influence the markets.