Future demand: A worker walks towards the shaft at a copper mine in Superior, Arizona. Producers such as Freeport and Rio Tinto stand to benefit from a premium on the metal, while analysts warn it would be consumers who will have to pick up the tab. — Reuters
NEW YORK: The world’s biggest maker of copper cable is applauding President Donald Trump’s planned 50% tariff on the metal, saying it will bolster the American supply chain, with costs passed on to customers.
Italy’s Prysmian SpA, which last year shelled out US$4bil-plus to buy Texas-based Encore Wire Corp, is in regular contact with the administration ahead of the measure’s implementation on Aug 1, said Maria Cristina Bifulco, head of investor relations and sustainability.
