Copper rebounds after Trump announces tariff exemptions for some products

Copper rose 0.2% after US President Donald Trump reportedly granted exemptions to his tariffs on some goods. As noted by Bloomberg, this has helped to improve sentiment across financial markets.

On Friday, the American leader suspended import duties on some consumer electronics, including smartphones and memory chips. Such an announcement by Trump gave a temporary respite to markets gripped by uncertainty. On Sunday, however, the US president promised more tariffs to come on phones, computers, and popular consumer electronics.

On Monday, the Bloomberg Dollar Spot Index fell 0.4% to its lowest level since October, declining for the fifth consecutive session. As the agency points out, some traders remain skeptical of tariff exemptions. Fears that Trump's trade policies will trigger a global recession have already driven down commodity prices over the past month.