Chile, the world's No. 1 copper producer, is in wait-and-see mode after U.S. President Donald Trump announced a surprise 50% tariff on imports of the red metal, with the Andean nation blindsided while its top miner held out hope of exemptions.

Chile, by far the biggest shipper of copper into the US, is waiting for details to emerge following President’s Donald Trump’s bombshell comments on tariffs.

Chile, the top copper producer, faces uncertainty after President Trump's unexpected 50% tariff on copper imports. Chilean state miner Codelco, led by Maximo Pacheco, seeks clarity on which copper products are impacted and hopes for exemptions.