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.