FX.co ★ Copper Holds Losses Amid US Tariff Uncertainty

Copper futures remained below $5 per pound on Tuesday after experiencing declines over the past three sessions. Investors are currently evaluating the impact of the recent tariff announcements by the White House. US President Donald Trump revealed revised tariff rates for 14 countries that have not yet secured trade agreements with Washington. These include export-driven economies like Japan and South Korea, both of which are now facing 25% tariffs. In addition, President Trump signed an executive order that extends the deadline for reciprocal tariffs from July 9 to August 1, granting more time for negotiations. Furthermore, he issued a warning of a potential 10% tariff on nations he claims are supporting "anti-American policies on BRICS." Analysts have expressed concern that the expanded scope of these trade measures might hinder global economic growth and reduce the demand for industrial metals such as copper. The previous week saw copper prices hitting a three-month peak due to tightened global supply and a surge among exporters to reroute shipments to the US ahead of possible import tariffs.