Surging to beat tariffs: A surge of copper shipments to the U.S. ahead of potential import tariffs is straining major ports, with the Port of New Orleans reportedly nearing capacity as about 100,000 metric tons of additional African and South American copper are expected in September and October. The roughly $500 million Nord Norfolk shipment is the highest-value single commodity shipment recorded, while the influx has helped drive a sharp rally in U.S. copper prices. As the tariff decision remains uncertain and the price gap narrows, some shipments could be redirected to Asia, while Comex-approved warehouses are rapidly expanding storage capacity to accommodate the additional copper. Bloomberg has the full story.
US pushback: U.S. automotive industry groups are urging President Donald Trump to maintain policies that restrict Chinese automakers from selling, importing or manufacturing vehicles in the U.S., arguing that expanded access could affect domestic manufacturing and competition. The letter, signed by six major trade associations representing automakers, suppliers and about 17,000 franchised dealers, comes ahead of Trump’s expected meeting with Chinese President Xi Jinping. CNBC has the full story.
CTO position created: Disney has hired Character.AI CEO Karandeep Anand as its first chief technology officer, where he will oversee the company’s technology, infrastructure, data, AI platforms, product and engineering teams. Anand, a former Meta and Microsoft executive, will bring some of his Character.AI team to Disney as CEO Josh D’Amaro seeks to strengthen the company’s digital capabilities and better connect with consumers across its businesses. The Wall Street Journal has the full story.
Port impact
