FX.co ★ Copper Holds Decline as New US Tariffs Kick In

Copper futures steadied at approximately $4.1 per pound on Wednesday, remaining near their multi-month lows amid intensifying concerns over a deepening trade conflict possibly igniting a global recession. Today marks the implementation of sweeping reciprocal tariffs imposed by US President Donald Trump, which include a significant 104% duty on Chinese imports. In response, Beijing has promised to "fight to the end" and is poised to intensify its retaliatory measures on US exports. Investor sentiment is further dampened by the absence of tangible developments in tariff negotiations, although President Trump signaled he is still open to dialogue with key trading partners. Copper prices faced additional pressure as the new US tariffs specifically exclude copper, gold, energy, and certain strategically important minerals not produced domestically, contradicting earlier speculation that copper might be targeted in forthcoming weeks.