Trump's Copper Tariff Triggers Historic Price Surge

President Donald Trump announced plans for a 50% tariff on copper imports, causing copper futures to surge as much as 17%—the largest single-day gain in decades—and pushing U.S. copper prices well above global benchmarks. The administration framed the tariff as a national security measure under a Section 232 inquiry, aiming to strengthen domestic production of key industrial metals. The U.S. relies on imports for 36–45% of its copper, with main suppliers including Chile, Canada, and Mexico. Analysts project higher manufacturing costs across sectors reliant on copper, such as electronics, vehicles, and renewable energy. While inflation expectations remain stable, the move has triggered volatility in commodity markets and concerns about the broader economic impact. Mining stocks like Freeport-McMoRan experienced mixed market reactions following the announcement.