President Donald Trump has ordered an investigation into potential new tariffs on copper imports in an effort to thwart what his advisers see as a move by China to dominate the global copper market, Reuters’ David Lawder and Andrea Shalal report. According to the report, Trump signed an order at the White House directing Commerce Secretary Howard Lutnick to start a national security probe under Section 232 of the Trade Expansion Act of 1962, the same law Trump used in his first term to impose 25% global tariffs on steel and aluminum. Publicly traded companies in the copper sector include Freeport McMoRan (FCX), Southern Copper (SCCO), Rio Tinto (RIO), BHP (BHP), and Glencore (GLNCY).
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