Commodities
Base Metals Erase Losses as Traders Weigh Scope of Trump Tariffs
- China vows ‘corresponding countermeasures’ to 10% levy
- Dollar surges, making commodities more expensive for many
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Industrial metals from copper to aluminum erased losses as uncertainty swirled surrounding the scope of President Donald Trump’s tariffs on China, Canada and Mexico, and the implications for global economic growth.
Trump announced a 10% levy on imports from China on Saturday, as well as 25% tariffs on Canada and Mexico. China’s commerce ministry vowed “corresponding countermeasures,” without elaborating, and also said it would file a complaint at the World Trade Organization.