7 September
US tariff hike on aluminum increases likelihood of additional duties on copper — Morgan Stanley
Analysts at Morgan Stanley believe US President Donald Trump’s decision to double tariffs on aluminum to 50% increases the likelihood of additional levies on copper imports. They remind that the United States imposing 25% duties on aluminum forced some producers to divert the metal to Europe.
The American authorities are currently investigating copper imports under Section 232 of the Trade Expansion Act of 1962. It could justify the imposition of tariffs designed to promote domestic production of goods critical to US national security.
However, Morgan Stanley analysts state that if the Donald Trump administration raises import duties on copper, the country's existing stockpiles of the metal will mitigate the impact on prices.
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