US copper futures hit a record high yesterday – surging as much as 17% – after President Donald Trump announced he plans to implement a 50% tariff on copper imports. The magnitude of yesterday’s spike also set a record for a one-day increase. Meanwhile, LME prices dropped more than 4% early this morning. Trump's tariff on copper aims to boost domestic production of the metal and reduce the US's reliance on imports. By imposing a 50% tariff on imported copper, the administration aims to encourage the development of new mining projects within the US and support the domestic copper industry. However, the US produces ... (full story)