Trump confirmed that a 50% tariff will be imposed on copper imports starting from August 1st, causing copper prices to soar to record highs.

According to the Wisdom Financial APP, U.S. President Trump confirmed on Wednesday local time that starting from August 1st, a high tariff of 50% will be officially imposed on copper imports. This move is seen as his latest effort to promote the revival of the domestic metal industry. Trump had already hinted at this during a media interview on Tuesday, and the next day he further clarified the effective date of the tariff through social media, criticizing the influence of previous administrations on the U.S. copper market decline. He emphasized, "This 50% tariff will reverse the reckless decisions of the Biden administration, and the United States must rebuild its dominant copper industry."