Copper shipments into the United States are expected to accelerate in the coming weeks in a final scramble to get metal across the border before U.S. President Donald Trump's higher than expected 50% tariff on imported copper takes effect.

U.S. President Donald Trump's announcement of a proposed 50% tariff on copper imports has raised concerns in Chile and Peru, which together account for nearly 40% of global copper production.

President Donald Trump said on Tuesday his administration would soon be imposing a new 50% tariff on copper, though he left the exact details unclear. Commerce Secretary Howard Lutnick told CNBC that the tariffs would likely take effect later this month or early August.

U.S. President Donald Trump's 50% tariff on copper has placed a record premium on prices of the metal in the United States that is likely to ease over the coming months as a stockpile created by traders anticipating the levy works through the system.

“The U.S. has been sucking in lots of copper that it didn’t really need from around the world,” Albert Mackenzie is a copper analyst at Benchmark Mineral Intelligence. President Trump had signaled that the tariffs were coming months ago, prompting many U.S. buyers to stockpile copper ahead of time.

Trade tensions and demand worries are among catalysts contributing to recent dip in copper prices. - However, weakness in the industrial metal may be short-lived as the long-term outlook still shines.

U.S. President Donald Trump has launched a global trade war with an array of tariffs that target individual products and countries. Trump has set a baseline tariff of 10% on all imports to the United States,

President Trump this week has been firing off letters to global leaders that threaten new, high tariff rates and also announcing them via social media. Here's what has happened so far.