"American industries depend on copper, and it should be made in America, no exemptions, no exceptions," Commerce Secretary Howard Lutnick said.
U.S. President Donald Trump on Tuesday ordered a probe into possible tariffs on copper imports to rebuild U.S. production of a metal critical to electric vehicles, military hardware, semiconductors and a wide range of consumer goods.
Shares of copper miner Freeport-McMoRan Inc. (FCX) jumped by over 4% during morning trade on Wednesday after Reuters reported that President Donald Trump has ordered an investigation into potential new tariffs on copper imports,
A Trump administration investigation into copper imports has led to an after-hours rise of 20 cents per pound in Comex copper’s value.