The free port considers expanding its copper business in the United States and warns of the rising cost of tariffs.

date
25/04/2025
Copper producer Freeport-McMoRan, located in the free port, stated that it is considering expanding in several factories in the United States, but warned that President Trump's tariffs could increase their costs. On April 24, the company stated that the escalating trade war could result in a 5% increase in procurement costs for the Freeport. At the same time, the largest copper producer in the United States, Freeport-McMoRan, reported first-quarter earnings that exceeded analysts' average expectations, and copper sales also exceeded the company's previous expectations. The company, headquartered in Phoenix, Arizona, saw its stock price rise by 7.1% to $37.69 at one point.