Commodities
Copper-Laden Ships Race to Reach US Ahead of Trump’s 50% Tariffs
Longshoremen fill shipping containers with copper plates at a copper refinery and smelting facility.
Photographer: Dado Galdieri/BloombergAt least four ships carrying copper are trying to reach US ports before August to get ahead of planned import tariffs on the metal.
The shipments represent the final scramble by merchants to cash in on a lucrative arbitrage trade that has upended the global copper market since US President Donald Trump first floated the idea of copper tariffs. The urgency to secure imports increased in the past two weeks after Trump announced the levy would be 50% starting Aug. 1.