U.S. President Donald Trump on Tuesday said he planned to announce a 50% tariff on copper imports later in the day, surprising a global industry whose output is critical to electric vehicles, military hardware,

The latest round of tariff implementations from the United States has landed on metals, this time centered on copper. As a reaction to a 50% tariff on copper trade with the United States, the open market price of the metal shot up by over 10% in a single day.

President Trump wants America to produce more of the much-needed mineral, but a 50 percent tariff could undermine his aim of a manufacturing renaissance.

“The U.S. has been sucking in lots of copper that it didn’t really need from around the world,” Albert Mackenzie is a copper analyst at Benchmark Mineral Intelligence. President Trump had signaled that the tariffs were coming months ago, prompting many U.S. buyers to stockpile copper ahead of time.

U.S. President Donald Trump's announcement of a proposed 50% tariff on copper imports has raised concerns in Chile and Peru, which together account for nearly 40% of global copper production.

Copper Falls State Park campground was recently rated the third-best in the Midwest. Now, it's earned a top-10 honor nationwide.

US buyers of copper will pay a high price if President Donald Trump pushes ahead with a 50% tariff on refined metal as opposed to products such as wiring, according to producers and analysts.

The move injects fresh turmoil into a strained bilateral relationship as Prime Minister Mark Carney negotiates a new economic partnership with the United States.