Trump’s Tariffs Send Copper to Record, Dow Industrials Slip

Copper prices surged and the Dow industrials slipped on Tuesday after President Trump announced a surprisingly large tariff on imports of the metal, and declared that he would hold firm on his latest deadline for trade deals with foreign countries. Speaking at a cabinet meeting, Trump said the U.S. would impose 50% tariffs on copper—a component of electrical wiring, motors and many consumer goods. Front-month U.S. copper futures soared 13% to settle at an all-time high of $5.6450 per pound, in their biggest one-day move in records going back to 1968, according to Dow Jones Market Data.