Prysmian in "much stronger position" after Trump's new copper tariff set-up, CEO says

Prysmian SpA

31/07/2025 07:45

MILAN, July 31 (Reuters) - Italy's Prysmian PRY.MI is in a "a much stronger position" after the new set-up on copper tariffs decided by the U.S. administration, the cable maker's CEO Massimo Battaini said on Thursday, presenting the group's second quarter results.

U.S. President Donald Trump on Wednesday signed a proclamation imposing a 50% tariff on semi-finished copper products and copper-intensive derivative products as of August 1, while exempting copper cathodes and other red metal input materials such as scrap, ores, concentrates, mattes and anodes.

 (Reporting by Giulio Piovaccari, editing by Giulia Segreti)

 ((giulio.piovaccari@thomsonreuters.com))