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US copper futures crash 20% on tariff exemption
US copper futures took a sharp 20% dive after President Trump said refined copper would be left out of new tariffs.
Instead, starting August 1, only semi-finished copper products like pipes and wires get hit with a hefty 50% tariff.
The move comes after copper prices in the US spiked way above global rates, causing some serious market jitters.
Future tariffs and market review
Even though refined copper dodged tariffs for now, the story isn't over.
The White House plans to introduce a 15% tariff in 2027, bumping it up to 30% in 2028.
There's also a big review of the US copper market set for June 2026 that could bring even more changes—something exporters and American buyers will want to keep an eye on.