Trump’s Mexico tariff threat stirs copper market but premium remains stable
- US President Trump threatens to set import tariffs on all Mexican imports
- Shanghai premiums rise on favorable import arb shift
- European market flat on lack of buying
The US copper market, which has been experiencing softened demand and muted spot activity otherwise, was jolted by the threat of new tariffs on all imports from Mexico.
US President Donald Trump announced on May 30 that he would impose 5% tariffs on all goods from Mexico with effect from June 10. The tax will “gradually increase” until Mexico stops the flow of undocumented migrants into the US, Trump tweeted.
This sudden announcement, which is facing stiff resistance even from Republican senators, will have wide-reaching impact if implemented.
A producer told Fastmarkets the Mexican tariff threat “hits us directly, so we are reviewing the situation closely.”
But the US administration is...