Trump fees on buyer can be closer than expected

The United States may impose customs on the import of buyer in a few weeks, months before the decision of the decision, according to people who are familiar with the matter. While Copper Price reached a record level in New York. In February, US President Donald Trump ordered the study on the possibility of setting up customer duties on buyer and submitting a report within 270 days. Nevertheless, a decision is expected to be made closer, according to those who are familiar with the case who asked not to reveal their identity because of the confidentiality of the conversations. Some of them also indicated that the study appeared to be only a formal procedure, as Trump announced his intention to impose definitions more than once. The US administration moves quickly to the study, and a result is possible to reach a long period before the deadline for two hundred and seventy days is specified, according to an official familiar with the operation, provided his identity is not disclosed. The White House refused to comment. In February, Peter Navarro, the White House commercial adviser, pointed out that the study would move forward quickly and added: “We will see the movement of the new Minister of Trade Howard Lottenic according to what is best to be mentioned (Trump’s timing), that is, as soon as possible, to give the results of the study to take potential measures.” The expansion of the difference between immediate contracts and futures, Trump has threatened to impose a customs tariff of up to 25% on all brass imports, in a procedure that can shake the global market for one of the most common minerals in the world, used in pipe and electrical wires. The imposition of customs duties on buyer will be a clear difference with studies that preceded Trump’s imposition of definitions about steel and aluminum during his first term, as it took about ten months to be completed. The buyer in New York rose by about 3.1% to a record level at $ 5,3740 per pound, before dropping to $ 5,3005 per pound. While the price of the standard metal in London recorded a slight decrease to $ 10100 per tonne, the difference between the immediate and future contracts for more than 1600 dollars per tonne expands. “The price of copper rises rapidly, especially in New York, to prosecute the expected customs tariff by 25%. The risk is currently imposed in a rapid drop in prices if a rate is imposed less than 25%,” says Shu and Achtio, an analyst at Cofco Futures. The rise of the shipping for America led the major price difference between London and New York to accelerate clients and traders around the world to send the red metal to the United States to take advantage of the profitable price allowance, and after this step, the rest of the countries, especially China, the largest consuming copper country in the world, lack of supply of metal. During his speech at a joint session of the US Congress on the fifth March, the president raised a confusion when he tried to defend customs duties when he said he had imposed a 25% customs tariff on aluminum, steel, wood and “buyer” from a potential tongue, as it was not a buyer. The analysts of ‘Goldman Sachs’ and ‘City Group’ who, in two customers, expected the United States to set up a customs tariff on buyer by the end of the year. The ‘Trafigura’, the world’s largest copper trading business, indicated that the price of the mineral has risen to 12 thousand dollars per tonne, compared to about 10 thousand dollars currently.