Donald Trump on Wednesday night confirmed the 50 per cent tariff on copper would go into effect on August 1. The US president posted on his social media platform Truth Social that he would impose the levy “after receiving a robust NATIONAL SECURITY ASSESSMENT”.

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

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.