Rebuild landed cost around tariffs

- Reports show Section 232 copper tariffs and trade frictions are fragmenting supply chains, shifting effective material costs beyond simple spot prices for manufacturers. - The note recommends decomposing landed cost into base price, tariff/duty, freight, and route premium to explain PPV and margin drift. - This is framed with copper futures and Tesla's Canada supply shift as examples of geography altering unit economics. (sorafutures.com) (electricaltrader.com) (eletric-vehicles.com)