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

Brazilian President Luiz Inacio Lula da Silva responded to Trump's letter by issuing a statement saying that any unilateral measure to increase tariffs would be met with a response in accordance with Brazilian law.

President Trump will wield 50% copper tariffs on August 1 as he promises more to come with countries such as Brazil in the crosshairs. Delta’s good news, Nvidia scores the first $4 trillion market cap milestone,

Copper futures (HG1:COM) extended their rally on Thursday, rising around 2% as traders reacted to U.S. President Donald Trump’s announcement of a 50% tariff on imported copper, set to take effect on August 1.

U.S. President Donald Trump's promised 50% copper tariffs are said to include all refined metal, Bloomberg reported on Friday, citing people familiar with the matter.

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.

President Trump is threatening new 50% tariffs on copper and up to 200% on pharmaceutical imports. He also announced new tariffs on six countries. NBC News' Vaughn Hillyard reports the latest. Veda Partners Managing Partner Henrietta Treyz and University of Michigan Professor of Economics and Public Policy Justin Wolfers join Katy Tur to break down the economic impact of Trump's policies on Americans.

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.