Copper and Zinc Prices Increase Following Delay of Tariffs on Canada and Mexico
Copper and zinc prices have increased following President Trump's decision to delay tariffs on Canada and Mexico for a month, resulting in a drop in the US dollar.
Copper and zinc prices rose after President Donald Trump announced a one-month delay on tariffs imposed on Canada and Mexico. The decision resulted in a decline in the US dollar.
Copper, recognized as an industrial bellwether, continued to gain momentum on Tuesday along with the shift in market sentiment. Trump indicated that the delay of the 25% tariffs on both neighboring countries came after they agreed to implement stricter border-control measures. This action has temporarily averted a potential trade war across the continent.
The announcement has led to a drop in a measure of the US currency, which had reached its strongest point in over two years, making commodities like copper and zinc more appealing to investors.
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