Trump's 50% tariff threat sends copper prices to record highs

Pharma imports also in danger

Copper prices have soared to record levels after US President Donald Trump said America would impose 50% tariffs on the metal.

In a cabinet meeting on Tuesday (8 July), Trump said "today we are doing copper" and threatened levies on pharmaceutical imports which could reach as high as 200%. Trump returns to tariff threats as 9 July deadline approaches Copper prices have jumped following the meeting, with continuous contract surging by 13.5% at the time of reporting and hitting an all time high of $5.7 per pound, according to data from MarketWatch. This came after on Monday (7 July) Trump sent letters to dozens of countries with which the US has not reached a trade deal to let them know that the global levie...