President Trump will wield 50% copper tariffs on August 1 as he promises more to come with countries such as Brazil in the crosshairs. Delta’s good news, Nvidia scores the first $4 trillion market cap milestone,

President Donald Trump said his 50% tariff on copper imports will take effect on Aug. 1, noting he made the decision after a national security assessment.

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.

The president was following through on an earlier statement that he would target a key metal used for semiconductors, lithium-ion batteries and more.

President Donald Trump said the US would begin levying a 50% tariff on copper imports from Aug. 1, confirming a move that will hurt American producers of everything from automobiles to appliances.The higher-than-expected levy was signaled by Trump in comments to reporters on Tuesday,

U.S. President Donald Trump announced on Wednesday a new 50% tariff on copper to start on August 1 in a bid to promote domestic development of an industry critical to defense, electronics and automobiles.

Trump also said he would soon announce tariffs “at a very, very high rate, like 200%,” on pharmaceutical imports.

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.