Here’s the data through 7/9:
Figure 1: EPU-trade category (blue, left scale), and Trade Policy Uncertainty index (red, right scale). Source: Baker, Bloom & Davis policyuncertainty.com, and Caldara et al. TPUD.
For 7/9, it’s 4110. Pre-Trump 1.0 average is 102.
Copper prices?
I would not expect any tariffs on copper to actually be applied. The policy of increasing manufacturing in the US is in direct conflict with making raw materials more expensive here than anywhere else on earth.
This is not the only direct conflict between two of Trump’s stated goals. I’m surprised that more writers, business leaders and officials have not pointed out this simple fact.
It seems like this is Trump pandering to the US copper miners (and steel mills and aluminum miners). Trump wants copper pulled out of American ground because…?
My guess is because someone purchased enough Trump coins to have earned a favor.
The actual policy of making all US consumers pay more for houses and other products containing copper, is destructive for the country. So is making sure that any US export product containing copper will be less competitive in the world markets.
When it comes to understanding Trump policies don’t try to connect to some kind of realities or political outcomes – it’s always and exclusively about grift and personal revenge.