Iron ore price drops after Trump’s China tariff threat
US President Donald Trump said that he could hit China with 10% tariffs on all imports from as early as next month.
World no.2 iron ore miner Rio Tinto is investing $676 million to speed up its iron ore expansion by six months to capture demand as rival plans to boost production are impeded.
Rio said on Wednesday it expects to increase its capacity by 50 percent to 333 million tonnes a year by the first half of 2015.
