Copper prices plunged nearly 20% on Wednesday after President Donald Trump surprised markets by excluding refined copper from a sweeping 50% import tariff, abruptly ending a months-long rally fueled by fears of broad trade restrictions.
The White House confirmed the new tariffs, effective August 1, will apply only to semi-finished copper products such as pipes, wires, rods, sheets, and tubes, as well as copper-intensive goods like pipe fittings, cables, and electrical components.
