Copper is used in a wide variety of products from electronics, wiring, machinery and cars. The U.S. produces a majority of the copper it uses but still imports large quantities, primarily from

Prices of copper in the US have surged since January, when President Donald Trump threatened to impose a tariff on imports of the metal that’s a vital component in power networks, plumbing and industrial machinery.

U.S. President Donald Trump announced on Wednesday a new 50% tariff on copper to start on August 1 in a bid to promote domestic development of an industry critical to defense, electronics and automobiles.