U.S. President Donald Trump said on Tuesday he would soon announce a 50% tariff on copper imports, which make up nearly half of the metal consumed in the country, as part of his bid to build up domestic production. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here.

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. Copper prices in New York rose an average of 12% after the news,

President Donald Trump on Wednesday affirmed that the United States will levy a 50 percent tariff on copper imports starting Aug. 1, following through on an earlier statement that he would target a key metal used for semiconductors, lithium-ion batteries, renewable energy technology and more.