London copper prices edged higher in early trading as the market weighed the impact of Trump’s 50% import tariff on the metal.

President Donald Trump announced a 50% tariff on copper imports on Tueday, a move aimed at bolstering domestic production and reducing U.S. reliance on foreign supplies, particularly from Chile, which accounts for nearly 35% of U.S. copper imports.

Copper futures (HG1:COM) extended their rally on Thursday, rising around 2% as traders reacted to U.S. President Donald Trump’s announcement of a 50% tariff on imported copper, set to take effect on August 1.

President Trump's threatened 50% copper tariffs have boosted prices for the metal in the U.S. far ahead of anywhere else, lifting the premium to roughly one quarter. Copper futures mainly trad