Commodities
Copper Climbs on Report Trump Could Pare Back Tariff Plans
- Aides looking to limit tariffs to key sectors, WaPo reports
- Aluminum earlier hit three-month low with currencies in focus
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Copper rallied more than 1% in London after the Washington Post reported that US President-elect Donald Trump’s aides are exploring tariff plans that would be applied to every country but only cover imports of key goods.
Those plans would pare back a pledge made on the campaign trail to apply tariffs on all goods imported into the US, the paper reported, citing three unidentified people familiar with the matter. Trump later denied that his tariff policy will be pared back in a post on Truth Social, but copper and other metals held gains on the London Metal Exchange.