00:00Meanwhile, Trump said he will announce a 50% tariff on imported copper on Tuesday
00:05in an effort to boost U.S. production of a metal critical to electric vehicles,
00:11military hardware, the power grid and many consumer goods.
00:15U.S. COMEX copper futures jumped more than 10% after the announcement.
00:21Trump told reporters at a White House Cabinet meeting that he planned to make the copper tariff announcement later in the day,
00:27but he did not say when the tariff would take effect.
00:30Once we did seal, as you know, they're 50%. We did aluminum, 50%. Lumber just came out.
00:36We're not sure that's copper.
00:37And we did cars. Cars. And now today we're doing copper.
00:41Copper and lumber. What would that tariff be on?
00:44I believe the tariff on copper, we're going to make it 50%.
00:4750%.
00:48The Trump administration announced a so-called Section 232 investigation into U.S. imports of the red metal in February.
00:55The deadline for the investigation to conclude is in November.
00:59The National Mining Association and the American Critical Minerals Association did not immediately respond to requests for comment.
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