President Donald Trump said a new 50% tariff on all copper imports will come Tuesday. However, he did not specify when the new tariff would take effect.

Copper entering the US from other countries is set to face a new tax of 50%, President Donald Trump has said. The decision carries through on tariff threats he made earlier this year, when he ordered an investigation into how imports of the metal were affecting national security.

Copper futures on the Comex surged as much as 17% after US President Donald Trump said he planned to implement a 50% tariff on imports of the metal.