Traders Rush to Ship Copper to the US Before Tariffs Kick In
Earlier this year, President Donald Trump directed the Commerce Secretary to examine imposing tariffs in a review of foreign copper’s impact on the U.S. As copper prices continued to rise in the United States, traders like IXM SA, Hartree Partners LP, Trafigura Group, Mercuria Energy Group, and Glencore significantly increased their import volumes. At the start of this month, Trump announced that a 50% tariff on copper would be imposed on all imports as from August 1st. Now, latest reports reveal that roughly 4 ships transporting copper are making their way towards American ports, attempting to avoid import tariffs that…