President Donald Trump said Tuesday he’s imposing a new 50% tariff on all copper. However, it’s unclear when the new tariff would take effect.

It was another day of reacting to Donald Trump’s latest remarks. The president sowed chaos in metals markets by indicating the US would implement a higher-than-expected 50% tariff on copper imports, spurring a record spike in New York futures and a drop in the global benchmark.

Comex copper futures surged to a record high after Trump said he planned a 50% tariff on copper imports, more than the market expected. Oil prices edged higher yesterday. Read more here.