Trump on Tuesday said he would impose 50 per cent tariffs on copper imports, an announcement that reverberated across the market for the world’s most important industrial metal over the past two days. The US president also floated the idea of a 200 per cent tariff on pharmaceuticals.

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,

"The big money will start coming in on Aug. 1, I think that was made clear today," Trump told reporters. He then turned to Treasury Secretary Scott Bessent, who estimated that the United States could collect more than $300 billion in tariff revenue by the end of the year,