US Copper Prices Surge to Record as Trump Calls for 50% Tariff

Copper futures in New York surged after US President Donald Trump said he planned to implement a 50% tariff on imports, a move that’s likely to spark massive supply-chain ripples through global metal markets.

Contracts on the Comex climbed as much as 17% on Tuesday, a record one-day spike, before falling more than 4% in early trading on Wednesday. The New York price commanded a massive 24% premium to equivalent futures in London, the market that sets global benchmark prices.