Turkey: New 50% Tariff on Copper Imports
Turkey said the US will impose a new 50% tariff on copper imports. As soon as he spoke, the price of copper in New York rose by 10%. This move is aimed at promoting the domestic production of this metal. Copper is essential for military equipment and many consumer goods.
Turkey made the remarks to reporters during a cabinet meeting at the White House, but did not specify when the new tariff would take effect.
In February this year, the Trump administration announced an investigation into copper imports, increasing the possibility of imposing tariffs. The investigation is expected to be completed in November. After Trump's speech, the price of copper in New York rose 10%, reaching a new high.
Turkey also said he is considering imposing a 200% surcharge on medicines imported into the United States. Copper and pharmaceuticals are among the industries that Trump has threatened to impose specific tariffs on, along with semiconductors and timber.
Since returning to the White House in January this year, Trump has imposed tariffs on specific industries under the name of American industrialization (50% on steel and aluminum, 25% on cars), and also imposed a minimum 10% tariff on almost all imported goods.
He plans to raise this tariff from August 1st, further punishing exports from dozens of countries with trade surpluses against the United States.
Source: rfi
Original: https://www.toutiao.com/article/1837119738052810/
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