Trump to Impose 50% Tariff on Copper Imports, Sending Copper Futures Soaring

President Donald Trump announced a 50% tariff on copper to boost U.S. production essential for electric vehicles and consumer goods. U.S. Comex copper futures surged over 12% to a record high. Commerce Secretary Howard Lutnick expects tariffs by late July or August. Trump aims to bring copper production back to America. Major copper mining projects have faced opposition. Shares of Freeport-McMoRan rose 5% in response. Chile, Canada, and Mexico are top U.S. copper suppliers. Chile’s Mining Ministry declined to comment on tariffs. A 50% copper tariff could impact U.S. companies reliant on imports.

Read more at Yahoo Finance: Trump says US to impose 50% tariff on copper imports, copper futures jump