President Donald Trump’s 50% planned rate on imported copper, one of the most critical, volatile and closely monitored materials in the world, has triggered concerns, criticism and a search to buy before the announced Levy takes advantage of. Among the most concerned are the National Electrical Contractors Association, who wrote on its website that “this type of price shock would immediately promote the costs of projects across the country, from energy infrastructure to commercial construction”.
It comes into force on August 1, the rate is apparently a method of taking advantage of commercial negotiations with Canada, Mexico and Chile, the world leader in copper production, according to the administration. Copper is widely used in industry and defense and rate will allow the United States to rebuild the national industry in one that is “dominant” Trump said about social truth. “America cannot trust foreign imports Of the copper needed for key military hardware, infrastructure and everyday electronics, “said a spokesman for the White House in a statement to CBS Moneywatch.
The banking and financial company said that only 5% of world copper occurs in the United States, which is substantially dropped in the last decade. Building new mines in the United States involves a lasting permit, according to Ing.
COpper’s future trade trade reached the highest record on the day of the announcement. The tariff plan was not a complete surprise, though the size was unexpected. The Trump administration stated that he had been studying the matter for months.
The National Association of Electrical Contractors said he has been fighting the rate throughout the year and “has been successful in maintaining -out of the table so far.” Added: “We have made our case directly to policymakers in both Congress and Administration, warning that the increase in copper rates will throw supply chains, will inflaze the costs of the project and slow down the objectives of the infrastructure and the deployment of energy that the nation seeks to achieve. We are not struggling.”
