Trump Plans to Impose 50% Tariffs on Imported Copper, Prompting a Sharp Rise in Copper Prices

By: theblockbeats.news|2025/07/09 02:06:57

BlockBeats News, July 9th. During a cabinet meeting on Tuesday, U.S. President Trump told reporters that more trade agreements are on the way, especially in the form of letters setting unilateral tax rates by the United States. "These agreements are basically me asking them," Trump said. "The numbers we have chosen are both low and fair."

Trump added that the U.S. will impose a 50% new tariff on imported copper. "Today we are targeting copper. I think we will set the copper tariff at 50%." New York copper futures surged in response, with an intraday gain expanding to 17% at one point.

Furthermore, Trump stated that the U.S. will soon impose tariffs of up to 200% on drugs, but before the tariffs take effect, companies will have a year and a half to adjust their supply chains. Trump also mentioned that he will soon announce tariffs on semiconductors, but he did not specify the tariff level or date. (Golden Finance)

-- Price

A Polymarket user supported nearly half of Trade.xyz's "active addresses" with 34,000 wallets, yet contributed less than 1% of the trading volume. The real support for the market comes from market-making institutions like Jump, Selini, and Wintermute, as well as a group of directional traders crossi...

Binance quietly placed a bet on a leading large model company

In the past year, YZi Labs has significantly accelerated its investments in the AI field, from educational agents to physical robots, and then to large models, with crypto capital and AI technology rapidly integrating.

Best Crypto Discord Server 2026: Why Jacob’s Crypto Clan Is Gaining Massive Attention

Jacob’s Crypto Clan has grown into one of the most active crypto Discord communities, with over 45K members and continuing to expand. This rapid growth reflects strong demand for structured trading insights and real-time collaboration.

Tom Lee Buying ETH: Why Wall Street’s Loudest Ethereum Bull Keeps Doubling Down

Tom Lee keeps buying ETH through every dip, every drawdown, and every moment of market doubt. Inside the strategy that's turning Ethereum into a treasury asset — and what it signals for the rest of the market.

Stripe Sessions 2026: AI Agent, Global Payments, and Invisible Crypto Infrastructure

Stablecoins have finally begun to enter the real business world, but this time, the main character may not be exchanges, wallets, or public chains, but Stripe. It encapsulates KYC, wallets, gas, compliance, and settlement, allowing businesses to access on-chain assets just like using regular payment...

Where will South Korea's cryptocurrency taxation head?

There is little time left before South Korea implements cryptocurrency taxation, but the current tax laws only cover simple spot and currency-to-currency transactions. Driven by the international tax information exchange standard (CARF), South Korea is comprehensively building an intelligence analys...

Legendary investor Naval: Apple is dead, SaaS will follow suit, and entrepreneurs have 18 months to reshape their moats

"You can continue to hold Apple stock. Just don't expect that what you hold is stock in a growth company."

Morning Report | Visa includes Polygon in its global stablecoin settlement program; MoonPay invests $100 million to acquire security company Sodot; Digital wallet platform Belo completes $14 million Series A financing

Overview of Important Market Events on April 29

Full text of the Federal Reserve's decision: Holding steady for the third consecutive time but increasing divisions

The Federal Reserve has kept interest rates unchanged for the third consecutive time, but there were internal voting disagreements, with one official advocating for a rate cut while three others opposed signaling easing. The situation in the Middle East and fluctuations in energy prices further ampl...