Copper prices soar due to U.S. tariff threat

Copper prices have reached record highs as trade tensions between the U.S. and other countries threaten supply. The price rose to $5.24 per pound on Wednesday, a 30% increase this year. U.S. buyers are stocking up due to possible tariffs, while President Trump has suggested a 25% tariff on imports. China, the biggest copper importer, is also driving demand with a new stimulus program. Experts believe that the combination of tariff threats and increased economic activity in China is pushing copper prices higher. Copper is essential for energy infrastructure and is increasingly used in technology. The International Energy Agency expects copper demand to rise significantly in the coming years, largely due to the shift towards cleaner energy technologies and the growth of data centers. U.S. copper production is currently low compared to top producers like Chile and Peru. While mining companies are benefiting, the rising copper prices could hurt the construction industry. Homebuilders are facing increased costs, and higher prices for appliances and electronics could lead consumers to spend less. Inflation remains a concern as construction costs continue to rise.