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US copper prices rise to record high as Donald Trump threatens 50% tariff

President also says he will impose levies of up to 200% on drug imports after a transition period
Copper futures traded in New York on Tuesday soared 13% to $5.69 a pound, marking the biggest jump on records stretching to 1969

US copper prices soared to a record high on Tuesday after Donald Trump said Washington would impose 50 per cent tariffs on the industrial metal in the latest escalation of the president’s trade war.

“Today we’re doing copper,” Trump said before a cabinet meeting, adding he believed the tariffs would be 50 per cent.

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