Copper Slumps in London as Trump Threatens New China Tariffs

Copper fell as much as 3.4% on the London Metal Exchange after US President Donald Trump threatened a “massive increase” of tariffs on goods from China.

Copper futures sunk as low as $10,496 a ton, the lowest price since April 30.

Trump said in a social media post that he saw “no reason” to meet Chinese President Xi Jinping and threatened tariffs on goods from the Asian nation, citing recent “hostile” export controls on rare-earth minerals.

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