Copper pipes are displayed in a home rebuilding store on July 9, 2025 in New York City.<\/p>\n
Spencer Platt | Getty Images<\/p>\n
President Donald Trump<\/a> on Wednesday signed on order imposing a universal 50% tariff on copper<\/a> imports, the latest metal he has targeted with a steep import tax.<\/p>\n U.S. copper prices plunged as much as 18% in after-hours trading as soon as the White House announced the new tariff rate. Copper miners Freeport-McMoRan<\/a> and Southern Copper<\/a> were down about 10% and more than 6%, respectively.<\/p>\n The sell-off, if it holds through Thursday’s trading session, will mark the metal’s largest single-day decline since 1989.<\/p>\n The new, higher copper tariffs go into effect Friday, according to a fact sheet<\/a> released by the White House.<\/p>\n Read more CNBC politics coverage<\/p>\n The Trump administration says that the new duties, which follow 50% U.S. tariffs already imposed on steel and aluminum, are aimed at boosting domestic industries and addressing “trade imbalances.”<\/p>\n But experts warn that they could raise prices<\/a> on all sorts of products, ranging from construction materials to electronics, that utilize the versatile metal.<\/p>\n And Trump’s other sector-specific tariffs and ongoing trade investigations, which target imported autos, lumber and pharmaceuticals, could dampen overall U.S. growth, according to the Tax Foundation<\/a>.<\/p>\n