The headline has been updated for clarity. Goldman Sachs forecasts a surge in U.S. copper imports soon, driven by expectations of tariffs from President Donald Trump's administration. Per Reuters' report,

U.S. net copper imports could rise by 50% to 100% in the coming months due to higher U.S. prices before the Trump administration's planned tariffs, Goldman Sachs said in a note on Tuesday.

The May 2025 U.S. copper price is currently trading at $756 per metric ton over the global benchmark London Metal Exchange price, after the U.S. initiated an investigation into possible tariffs on copper imports to rebuild U.S. production, the bank said.

Key Takeaways Goldman Sachs analysts have cut their projection for S&P 500 growth this year.They cited uncertainty around Trump's tariffs and other economic growth factors as reasons for the recent market sell-off.

Goldman's chief US equity strategist lowered his year-end price target for the S&P 500, but said there's a path to recovery for stocks.

Goldman Sachs is gearing up for its annual workforce reduction, with plans to trim between 3% and 5% of its employees, marking a shift in timing for the firm's regular personnel cuts. Unlike previous years, when these layoffs typically occurred in the second half of the year, this round is expected to take place in the spring.