The United States announced a 50% tariff on imported copper products. The price of copper on the New York Stock Exchange plummeted by 20%.

According to a fact sheet released by the White House website on July 30 local time, US President Trump signed a proclamation on the same day, imposing a uniform 50% tariff on imported copper semi-finished products and derivatives with high copper content starting from August 1. On July 30, copper futures prices on the New York Mercantile Exchange plummeted by 20% in one day. US media analysis indicates that this decision is the latest major blow to the copper market by the US government. Earlier this year, when US President Trump first mentioned the possibility of imposing tariffs, it led to a significant rise in US copper prices and sparked a rush to ship copper to the US to avoid tariffs. Earlier in July, Trump announced that the tariffs to be imposed would be at 50%, double the market's expectations, leading to record highs in copper prices.