U.S. President Donald Trump said on Tuesday he would announce a 50% tariff on copper imports, sending U.S. Comex copper futures up more than 12% to a record high. Prices on the Shanghai Futures Exchan

U.S. President Donald Trump indicated a sweeping 50% tariff on all copper imports into the country, significantly escalating ongoing global trade tensions. The 50% copper tariff will likely take effect at the end of July or on August 1.

Copper futures in New York surged after US President Donald Trump said he planned to implement a 50% tariff on imports, a move that’s likely to spark massive supply-chain ripples through global metal markets.