Trump confirms copper tariffs will be imposed starting August 1, mining stocks rise in response
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President Trump confirmed a 50% tariff on global copper imports starting August 1, leading to a general rise in mining stocks in pre-market trading. Freeport McMoRan Copper & Gold rose 2.7%, BHP rose 3%, and Rio Tinto rose 2.4%. Analysts pointed out that the implementation of the tariff will affect the market, with an expected increase in copper imports in the coming weeks, which may lead to upward pressure on copper prices
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