FT News Briefing Global copper market weighs Trump tariff threat
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Jul 10, 2025 The UK and France are teaming up to coordinate their nuclear strategies, marking a significant shift in defense policies. Meanwhile, the copper market is shaken by potential U.S. tariffs, raising concerns over heavy reliance on imports. On the energy front, Canada is aiming to emerge as a global superpower by boosting liquefied natural gas exports, despite facing challenges and changing public attitudes toward fossil fuels. Additionally, Nvidia has made waves by becoming the first company to hit a $4 trillion market cap!
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UK-France Nuclear Coordination
- The UK and France have agreed to coordinate their nuclear weapons use for the first time.
- This marks a notable shift as France typically acts independently in nuclear decisions.
US Copper Market Turmoil
- US President Trump's 50% tariff threat caused US copper prices to spike to record highs.
- The tariffs have split US and global copper markets reflecting expected increased US prices.
US Copper Supply Constraints
- The US relies on imports for 60% of its copper demand.
- It cannot quickly compensate due to slow domestic production growth and smelting capacity.