Citi predicts 25% copper-specific tariff by fourth quarter
ReutersFeb 26, 2025 6:51 PM
Feb 26 (Reuters) - Citi anticipates an eventual implementation of a 25% copper-specific tariff by the fourth quarter of 2025, following U.S. President Donald Trump's executive order initiating an investigation into U.S. copper imports, the bank said in a note on Wednesday.
Citi further expects the Comex-LME 1-year forward premium to price an effective rate of 15%-20% until the tariff implementation is confirmed.
The bank's base case scenario also flags the possibility of earlier reciprocal tariffs emerging from the second quarter of 2025.
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