The president of the United States signed a proclamation that orders import tariffs of some copper products for national security reasons.
The president of the United States, Donald Trumphe signed on Wednesday A proclamation that imposes a 50% tariff on the semi -cobre products and copper intensive products from August 1
Tariffs will exclude copper scrap and inputs such as copper minerals, concentrates, bushes, cathodes and anodes, according to the statement. The measure occurred after an American investigation under section 232, which Trump ordered in February.
Together with tariffs, the order asks for Measures to support the National Copper Industry, including the requirement that 25% of high quality scrap metal produced in the United States is also sold within the country.
Metal prices fell up to 18% before cutting some of the losses and quote AU $ S5,1310 La Libra. Much of the US market had anticipated some type of tariff on gross copper, key raw material for wiring and other omnipresent products in construction and automotive industries.
The United States imported copper for a value of U $ S17,000 million last year, according to data from the US Department of Commerce and Chile was the largest foreign metal supplier, sending copper for a value of US $ 6,000 million to the United States last year.
Source: Ambito
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