Copper prices hit record high after Trump announces 50% import tariff
1. Trump announced a 50% tariff on copper imports to boost domestic production. 2. Copper futures surged 13%, marking the largest single-day increase in history. 3. Demand for copper is high due to energy sector and AI growth. 4. Domestically, copper prices are at a 25% premium compared to international rates. 5. Rising copper prices may lead to increased costs in construction and manufacturing.