Manufacturers and construction companies — as well as consumers — would face higher prices if the U.S. jacks up tariffs on copper, analysts said.

Trump said on Tuesday that he would impose a 50% tariff on copper. Though the remarks were light on specifics, his comments sent the metal to all-time highs.

U.S. President Donald Trump's announcement of a proposed 50% tariff on copper imports has raised concerns in Chile and Peru, which together account for nearly 40% of global copper production.

Comex copper turns lower a day after President Trump announced a higher than expected 50% tariff on copper imports that caused a record spike in US futures and a drop in the global benchmark

Fed minutes and copper are in focus Wednesday as stocks look to shake of tariff anxiety and rally to fresh record highs.

U.S. President Donald Trump on Tuesday said he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, broadening his trade war that has rattled markets worldwide.

LONDON: Copper prices held firm on Tuesday, supported by a lower dollar while gains were capped by worries about economic slowdown and demand growth caused by U.S. President Donald Trump’s tariffs and rising inventories, traders said.