According to reports from multiple media outlets, including CCTV, US President Trump stated during a cabinet meeting at the White House on July 8 that a new 50% tariff would be imposed on all copper imported into the US, though he did not disclose the specific date when the new tariff would take effect. However, US Secretary of Commerce Lutnick also pointed out on the same day that the Department of Commerce had completed its investigation into copper imports, and Lutnick expected the new tariff to "likely be implemented by the end of July or August 1." The announcement of this tariff policy had a significant impact on the global copper market. LME copper, SHFE copper, and COMEX copper, which are important indicators of international copper prices, all experienced fluctuations and adjustments. COMEX copper hit a new all-time high of $5.8955/lb during trading on July 8, but then entered a consolidation phase after reaching its peak. As of around 15:32 on July 9, COMEX copper was trading at $5.6135/lb, down 1.27%; LME copper was trading at $9,628/mt, down 1.66%; and SHFE copper was down 1.36%, trading at 78,400 yuan/mt.