President Donald Trump indicated the U.S. would implement a higher-than-expected 50% tariff on copper imports, which has since spurred a spike in New York futures and a drop in the global benchmark, Katharine Gemmell and Martin Richie of Bloomberg reports. The plan marks the latest move in a difficult period for industrial commodities, as the U.S. leader works to push for more mining and smelting at home. Publicly traded companies in the copper sector include Freeport McMoRan (FCX), Southern Copper (SCCO), Rio Tinto (RIO), BHP (BHP), and Glencore (GLNCY).
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