The planned 50% tariff on copper imports may turn out to be the biggest own goal of U.S. President Donald Trump's ongoing trade war with the rest of the world.

President Trump's threatened 50% copper tariffs have boosted prices for the metal in the U.S. far ahead of anywhere else, lifting the premium to roughly one quarter. Copper futures mainly trad

Copper futures (HG1:COM) extended their rally on Thursday, rising around 2% as traders reacted to U.S. President Donald Trump’s announcement of a 50% tariff on imported copper, set to take effect on August 1.

Trump’s 50% copper tariff threat is likely a bluff to drive domestic investment, with markets pricing in a far lower risk if it materializes at all.

London copper prices pared some earlier losses in volatile trading as traders digest President Trump’s announcement of a 50% U.S. import tariff. Gold futures slipped.

U.S. President Donald Trump broadened his global trade war on Tuesday as he announced a 50% tariff on imported copper and said long-threatened levies on semiconductors and pharmaceuticals were coming soon.