President Claudia Sheinbaum said on Wednesday Mexico could redirect the copper it typically sends to the U.S. to avoid tariffs from the Trump administration, while her Chilean counterpart Gabriel Boric said he had yet to hear from the U.

US President Donald Trump's threat to impose 50-percent tariffs on copper imports has roiled the strategic metal on markets. This is the level that markets had expected before Trump's bombshell announcement this week of a planned 50-percent tariff.

President Donald Trump said Tuesday he’s imposing a new 50% tariff on all copper. However, it’s unclear when the new tariff would take effect.