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COPPER CRISIS: TRUMP’S 50% TARIFFS SEND PRICES SOARING TO UNPRECEDENTED HEIGHTS!
In an electrifying turn of events, the price of copper skyrocketed to unthinkable levels on Tuesday as Donald Trump unleashed shockwaves with his bombshell announcement of a staggering 50% tariff on the precious industrial metal! This is a move that’ll shake the very foundations of the global commodities market!
“TRUMP DECLARES WAR ON COPPER!”
During a cabinet meeting that could change the game, Trump made it crystal clear: "Today we’re doing copper!" – sending traders into a frenzy like never before. This bold declaration ignites the latest chapter in Trump’s relentless trade war saga, already wreaking havoc on economies worldwide.
MARKET PANDEMONIUM: PRICES HIT HISTORIC HIGH!
With the threat of astronomically high tariffs looming, savvy traders raced to secure copper supplies, pushing prices up 13% to a jaw-dropping $5.69 per pound! This is not just a spike; it marks the biggest surge on record since 1969! In a jaw-dropping twist, prices in New York soared to an unprecedented 25% premium over London Metal Exchange futures!
EXPERTS SOUND THE ALARM!
Citi analysts are already predicting official confirmation of these mind-blowing tariffs within weeks, with implementation set to hit as early as the end of this month. “This is a watershed moment for the copper market!" they declare ominously, indicating a catastrophic shift that could lock out U.S.-bound copper shipments for the foreseeable future!
CHILE IN THE HOT SEAT!
With about 70% of U.S. copper imports coming from Chile, alarm bells are ringing. Chile’s industrial lobbyist, Rosario Navarro, warns of a “substantial worsening” in trade conditions that could follow this drastic move. Even Canada and Peru are feeling the heat, as U.S. manufacturers brace for impact!
HIGH TARIFFS = HURTING U.S. JOBS!
Pierre Gratton, head of the Mining Association of Canada, warns that these outrageous tariffs threaten billions in energy infrastructure that is crucial for U.S. manufacturing. Experts are crying out: “The U.S. doesn’t have enough copper refining capacity! This will backfire!”
TRUMP PLANS MORE TARIFFS!
As if that wasn’t enough, Trump hinted at more trade announcements targeting at least seven nations! His recent messages on social media drop hints of escalating tensions. "Tomorrow morning, look out for major trade deals!" he teased. What could this mean for our global economy?
PHARMACEUTICALS IN PERIL!
And the drama doesn’t stop there! Trump is even eyeing the pharmaceutical industry with tariffs on medications possibly hitting 200% soon if companies don’t comply! Wall Street is reeling… is there any escaping the fallout from Trump’s trade tyranny?
BUCKLE UP, WORLD!
With the storm of tariffs brewing, the global market gasps in preparation. As the battle for copper heats up, nobody knows how far-reaching the consequences will be. Will this spell disaster for industries and economies across the board? Stay tuned for the shocking developments that are bound to unfold!
photo credit: www.ft.com
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