Copper futures edged lower toward $5 per pound on Tuesday but remained near three-month highs, supported by persistent supply tightness and continued flows to the US ahead of a pending tariff decision.
tariff attack
Renewed tariff threats target the EU
President Trump has floated the idea of an additional 20% tariff on European goods, potentially set for announcement later on Wednesday. This move revives worries of a transatlantic trade spat, with auto and pharmaceutical sectors reportedly in the crosshairs. Any retaliatory measures from the EU could undermine global growth and apply fresh downward pressure on the Euro.
Beijing likely to Cancel Trade War Talks After Donald Trump ups the Ante with Tariffs on US$200 Billion of Goods
According to the source, who declined to be identified as the plans have not been made public, China is reviewing its earlier plans to send a delegation, headed by vice-premier Liu He, to Washington next week.