The US White House announced that President Trump had signed a proclamation to impose tariff measures on specific imported copper products. This move covers semi-finished copper products, such as copper pipes & tubes, copper wires, copper billets, copper plates, etc., as well as copper-intensive derivative products, including pipe fittings, cables, connectors, and electrical components, with a general tariff rate of 50%. However, copper input materials such as copper ore and concentrates, as well as copper scrap, are not affected by this tariff policy.

The measure is based on Section 232 of the US Trade Expansion Act of 1962, which allows the President to take action on imported products for reasons of "national security". Following the release of the White House statement, the market reacted sharply, with copper prices in New York falling by over 18%. Some US media outlets pointed out that the new tariffs could lead to a significant increase in manufacturing costs in the US, thereby dealing a severe blow to the industry. (CCTV News)