U.S. President Donald Trump's plans to impose 50% tariffs on copper would include semi-finished products such as those used for power grids, the military and data centers, Bloomberg News reported on Thursday,

President Trump's move to impose a 50% tariff on U.S. copper imports targets a vital metal that is widely used in many products and industries. That could lead to higher prices for everything from appliances and electronics to cars and home repairs,

President Donald Trump said his 50% tariff on copper imports will take effect on Aug. 1, noting he made the decision after a national security assessment.

Earlier this week, President Donald Trump sent ripples across the commodities sector with the announcement that he will impose a 50% tariff on copper imports. According to a CNBC report, Trump implied that additional sector-specific levies would be just over the horizon.

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.

Peru kept interest rates unchanged as its economy comes under threat from Donald Trump’s plan for a 50% copper tariff. The central bank held its key rate at 4.5% for a second straight month on Thursday,

President Trump is amping up trade threats, again unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August and a warning to BRICS nations.

Berner agrees that higher copper tariffs will bring up prices for U.S. homebuilders. This would leave them with two options: pass on the additional costs to homebuyers or build less, a move that is likely to exacerbate the country's ongoing shortage.