**Breaking News: Trump FURIOUS as Copper Tariff Backfires – Canada’s Bold Retaliation Strikes Back**
In a shocking escalation of trade tensions, President Donald Trump has announced a staggering 50% tariff on copper imports, set to take effect August 1st. This decision has sent shockwaves through the markets, with copper prices soaring to an unprecedented $5.95 per pound—a 13% spike, marking the steepest rise in history. Wall Street reacted swiftly, as US ComX copper futures surged, creating a colossal arbitrage gap that threatens to upend the North American supply chain.
Canada, a key player in the copper market, now finds itself at a crossroads. The nation, which supplied 17% of America’s copper imports last year, must decide whether to absorb the costs or pivot entirely to Asian markets. Prime Minister Mark Carney has vowed to protect Canadian interests, hinting at potential retaliatory measures, including litigation at the WTO. Meanwhile, private sector giants like Tech Resources are already rerouting shipments away from US buyers, a move that could redefine trade dynamics overnight.
The implications of this tariff are staggering. Analysts warn that the average sticker price of Canadian-built vehicles could skyrocket by $6,000, with electric vehicles facing even steeper increases. As the cost of living rises, consumers are left wondering: will they foot the bill for this trade war every time they turn on the lights or buy a car?
The clock is ticking. With a July 22 deadline looming, Canada is racing to rewire its supply chain before Trump’s tariff locks in. As trade lawyers and market analysts brace for impact, the stakes have never been higher. Will the White House reconsider its aggressive stance to avert a full-blown trade war, or will it double down? The next few days will be critical in determining the future of North American trade relations. Buckle up; the fallout from this tariff is just beginning.