• US commerce secretary Lutnick says will investigate possible imposition of tariffs to rebuild US copper industry.
  • Lutnick: No exemptions, no exceptions; it's time for copper to come home.
  • White House official: Trump will recognize copper sector as a national security issue, commerce department will investigate under section 232.
  • Trump trade adviser Navarro: Like it has in steel and aluminum markets, China is using industrial overcapacity and dumping to gain control of the world's copper market.
  • White House official: Investigation will look at raw mined copper, copper concentrates, refined copper, copper alloy, scrap copper, and derivative products.
  • White House official: Premature to discuss any levels of tariffs.
  • White House official: Trump prefers tariffs over quotas.
  • White House official: US can't develop smelting and refining capacity unless there is reasonable certainty of long-lasting protection for these industries.
  • White House official: Forecasts based on demand from electric vehicles and AI point to copper shortages in the future.
  • White House official: Administration intends to move quickly on copper investigation but no specific timeline given.
  • White House official: Won't identify specific derivatives, that would prejudge the investigation.

more to come

Source: Forex Live