US Copper Industry Seeks Export Curbs Instead of Tariffs [Yahoo! Finance Canada]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Major players in the US copper industry have called on President Donald Trump to restrict exports of ore and scrap metal rather than imposing tariffs on imports, in his efforts to boost domestic production. Trump's executive order in February ordering a probe into possible copper tariffs upended the global market, driving US prices to a huge premium over international benchmarks and spurring a global race to get copper into the country before any potential tariffs are imposed. The order called on US commerce secretary to initiate an investigation under section 232 of the Trade Expansion Act and make recommendations on actions “including potential tariffs, export controls, or incentives to increase domestic production.” In public comments in response to the probe, leading companies including miner Rio Tinto Group, fabricator Southwire Co. and trader Trafigura Group suggested that the administration should instead impose restrictions on exports of coppe
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