Reported 2 days ago
Freeport-McMoRan's CEO announced they are still waiting for specifics on President Trump's planned 50% tariff on copper imports, which is set to start on August 1. The lack of clarity regarding which types of copper will be affected is causing confusion among producers and businesses. As the largest US copper producer, Freeport stands to gain significantly from the tariffs, potentially boosting profits by at least $1.6 billion annually. Despite rising copper prices and solid demand, the company's second-quarter production fell by 7% year-on-year.
Source: YAHOO