This Morning in Metals: Trump Threatens to Slap Over $500B in Tariffs on Chinese Imports
This morning in metals news, President Donald Trump escalated trade tensions by threatening to slap tariffs on essentially all Chinese imports, Nucor reported its Q2 and first-half earnings, and copper hits a one-year low.
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On Another Level
The back-and-forth of tariffs and threats between the U.S. and China has continued to increase in intensity in recent weeks and months, but that back-and-forth made its biggest step yet today (at least, in words).
In a taped interview, President Donald Trump said he is willing to bring the volume of tariffs on Chinese goods to over $500 billion — that is, covering the approximately $505 billion in imports that came in from China last year.
Nucor Reports Q2 Earnings
In Q2, Nucor reported net earnings of $683.2 million, up from Q1’s $354.2 million.
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In the first half of 2018, Nucor reported consolidated net earnings of $1.04 billion, up from $679.9 million in the first half of last year.
Copper Hits One-Year Low
Copper has been sliding of late, this week hitting a one-year low, CNBC reported.
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