Manufacturers and construction companies — as well as consumers — would face higher prices if the U.S. jacks up tariffs on copper, analysts said.

The Aug. 1 deadline for Trump's 50% copper tariffs signals the endgame for the most profitable trade that industry veterans say they have ever seen.

U.S. copper prices vaulted to new highs after President Trump said Washington will slap imports of the metal with a 50% tax.Front-month futures contracts jumped 13% Tuesday after Commerce Secretary Howard Lutnick said on CNBC that the new tariffs will go into effect by Aug.

President Trump wants America to produce more of the much-needed mineral, but a 50 percent tariff could undermine his aim of a manufacturing renaissance.

Freeport-McMoRan could see a $1.6-billion boost to annual profit if President Donald Trump's copper tariff materializes, a benefit driven by the firm's role as the largest U.S. producer with more expansion options than rivals.

What Happened in Markets Today Copper prices—and mining stocks—rose after Trump confirmed a 50% tariff on the metal will take effect Aug. 1. Prices for the [metal hit record highs](

The commodity’s price is near a record high because of Trump’s trade war. It might be wise for investors to wait for a dip before easing in.

Earlier this week, President Donald Trump sent ripples across the commodities sector with the announcement that he will impose a 50% tariff on copper imports. According to a CNBC report, Trump implied that additional sector-specific levies would be just over the horizon.