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Trump’s copper tax a boon for lucrative arbitrage trade

Alex Gluyas
Alex GluyasMarkets reporter
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US President Donald Trump’s latest tariff shock has turbocharged a lucrative arbitrage trade in commodity markets and prompted fund managers to pile into copper stocks that were heavily sold off on Wednesday.

Trump unleashed chaos in metals trading overnight after he announced plans to slap copper imports with a hefty 50 per cent tariff that US Commerce Secretary Howard Lutnick said would “likely” be in place by August 1.

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Alex Gluyas is markets reporter based in the Melbourne newsroom. Connect with Alex on Twitter. Email Alex at alex.gluyas@afr.com
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    Original URL: https://www.afr.com/markets/commodities/trump-s-copper-tax-a-boon-for-lucrative-arbitrage-trade-20250709-p5mdmf