US will hike tariffs on copper to 50%, Trump says

The US is set to increase tariffs on copper imports to 50%, announced by President Trump. Following through on previous tariff threats made earlier in the year, the move aims to protect American industry under the guise of national security concerns. The decision, which elicited a surge in copper prices, could potentially impact various sectors reliant on the metal, such as military equipment, electric vehicles, and construction. The US imported significant amounts of copper last year, with Chile and Canada being key suppliers.