While the cost of copper is going up for American businesses and consumers, the rest of the world is scratching its head while it enjoys a considerable discount on the price of copper.

Donald Trump's mooted 50% tariff on copper imports into America has sharply exacerbated what was already a dislocation between New York and London prices for the metal. The chart shows that since Trump's inauguration traders have been placing a greater premium on the COMEX contract,

London copper prices pared some earlier losses in volatile trading as traders digest President Trump’s announcement of a 50% U.S. import tariff. Gold futures slipped.

Copper futures (HG1:COM) extended their rally on Thursday, rising around 2% as traders reacted to U.S. President Donald Trump’s announcement of a 50% tariff on imported copper, set to take effect on August 1.

Trump’s 50% copper tariff threat is likely a bluff to drive domestic investment, with markets pricing in a far lower risk if it materializes at all.

President Trump's threatened 50% copper tariffs have boosted prices for the metal in the U.S. far ahead of anywhere else, lifting the premium to roughly one quarter. Copper futures mainly trad