In a bold escalation of his trade agenda, President Donald Trump has announced a 50% tariff on imported copper — a move that jolted global markets and sent U.S. copper prices soaring. The surprise declaration came casually during a televised Cabinet meeting, where Trump said, “Today we’re doing copper. We’re going to make it 50%,” signaling yet another wave of aggressive tariff hikes targeting key industries.

The import tax, expected to take effect by the end of July, could deeply impact top copper exporters like Chile and Canada. The U.S. relies heavily on foreign copper, importing over 800,000 metric tons last year — nearly half of its total consumption. While some exemptions may be on the table, Commerce Secretary Howard Lutnick indicated the administration is moving fast to finalize the order.

Copper, a vital metal for everything from defense systems to electric vehicles and home construction, now joins steel and aluminum on the list of heavily taxed materials. The abrupt tariff hike caught many industry watchers off guard, with some fearing the cost burden will hit downstream manufacturers and consumers hardest.

The copper move also signals a broader pattern. With additional tariffs looming for sectors like pharmaceuticals, semiconductors, and lumber, Trump appears ready to reshape U.S. trade one levy at a time. Whether this boosts domestic output or triggers international retaliation remains to be seen — but one thing is clear: the U.S. trade war playbook just added another chapter.