"I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT," Trump wrote in a post on his Truth Social network.

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.

U.S. Comex copper futures jumped more than 10% after the announcement.