U.S. President Donald Trump said the United States will impose a 50% tariff on all copper imports from 1 August, citing a national-security review under Section 232. The announcement sent COMEX copper futures to an all-time high of $5.6820 a pound, roughly $12,526 a tonne, before partially retracing. Prices are almost 40% higher than when Trump returned to office in January. The levy adds copper to a widening list of materials, including steel and aluminium, targeted by Trump’s sector-specific duties. The United States relies on imports for nearly half of its refined copper needs, buying about 810,000 tonnes last year—mostly from Chile, Canada and Mexico. The White House says the tariff is intended to spur domestic mining and smelting, but industry analysts warn it will raise costs for manufacturers of electric vehicles, power-grid equipment and consumer goods. In a separate letter released the same day, Trump said Washington will also slap a 50% tariff on all Brazilian imports, up from a previously announced 10%. He accused President Luiz Inácio Lula da Silva’s government of “attacks” on U.S. technology firms and called the trial of former Brazilian leader Jair Bolsonaro an “international disgrace.” The White House ordered the U.S. Trade Representative to open a Section 301 probe into Brazil’s digital-trade practices. Lula rejected what he labelled foreign interference, declaring that “Brazil is a sovereign country” and vowing to respond “in accordance with Brazil’s Law of Economic Reciprocity.” He convened an emergency cabinet meeting in Brasília, while the real slid more than 2% and Brazil-focused ETFs fell in after-hours trading. Market participants fear a tit-for-tat escalation that could hit bilateral commerce in agricultural and industrial goods. Commodity strategists note that large inventories amassed ahead of the tariff and subdued U.S. manufacturing demand could cap copper prices later this year. Even so, the twin 50% duties deepen uncertainty for global supply chains and mark the sharpest escalation in Trump’s trade offensive since the administration revived its tariff agenda this spring.