Many China Copper Traders Halt US Scrap Imports on Tariff Fears [Yahoo! Finance Canada]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The purchases were halted from mid-November because those cargoes are likely to arrive around the time Trump takes office on Jan. 20, the state-owned researcher said in a note, citing its survey of traders. The president-elect has threatened to impose 60% tariffs on all Chinese imports, which would likely spur retaliatory action from Beijing. The world's two biggest economies engaged in a tit-for-tat trade war during Trump's first term, with China imposing duties of 25% on copper scrap from the US. Tensions ratcheted higher on Monday as Washington slapped fresh curbs on China's access to components for chips and AI. Scrap metal was used as a feedstock for about 30% of copper production last year, according to the China Nonferrous Metals Industry Association. Around a fifth of the country's scrap copper imports in the first 10 months of the year came from the US, government data show. The potential loss of imports from the US comes as China's copper sm
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