President Donald Trump announced a 50% tariff on copper products sold in the United States effective Aug. 1. Trump said he made the decision after he received a national security assessment, according to a social media post.

The president has published just 22 letters, many to minor trading partners like Brunei, Moldova and Sri Lanka.

United States President Donald Trump's proposed 50% tariff on copper imports would affect Mexican exports worth around US $1 billion per year.

U.S. President Donald Trump's 50% tariff on copper has placed a record premium on prices of the metal in the United States that is likely to ease over the coming months as a stockpile created by traders anticipating the levy works through the system.

“The U.S. has been sucking in lots of copper that it didn’t really need from around the world,” Albert Mackenzie is a copper analyst at Benchmark Mineral Intelligence. President Trump had signaled that the tariffs were coming months ago, prompting many U.S. buyers to stockpile copper ahead of time.

Chile, the world's biggest copper producer, said Wednesday it was awaiting an "official" follow-up on US President Donald Trump's announcement of a 50 percent tariff on imports of the metal. State-owned copper giant Codelco,

Goldman Sachs said on Wednesday that copper shipments into the United States are expected to accelerate in the coming weeks following U.S. President Donald Trump's announcement of a 50% tariff on imported copper.