July 10 (UPI) -- President Donald Trump said he will put a 50% tariff on copper imports effective Aug. 1.
"I am announcing a 50% tariff on copper, effective Aug. 1, 2025, after receiving a robust national security assessment," Trump posted to his Truth Social account Wednesday evening. He then listed some of the military uses for the metal before using the opportunity to attack the Biden administration for how it managed copper.
Copper prices rose 2.62% after Trump's comments, then extended its gains before leaping 13.12% upwards and hitting its best one-day gain since 1989.
The third-most-consumed metal on Earth, the United States imports about half of the copper it uses, drawing most of its supply from Chile, as per data from the U.S. Geological Survey.
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