London copper prices edged higher in early trading as the market weighed the impact of Trump’s 50% import tariff on the metal.

President Trump is amping up trade threats, again unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.

President Donald Trump announced a 50% tariff on copper imports on Tueday, a move aimed at bolstering domestic production and reducing U.S. reliance on foreign supplies, particularly from Chile, which accounts for nearly 35% of U.S. copper imports.