U.S. President Donald Trump on Tuesday said he planned to announce a 50% tariff on copper imports later in the day, surprising a global industry whose output is critical to electric vehicles, military hardware,

President Trump wants America to produce more of the much-needed mineral, but a 50 percent tariff could undermine his aim of a manufacturing renaissance.

Copper Falls State Park campground was recently rated the third-best in the Midwest. Now, it's earned a top-10 honor nationwide.

The latest round of tariff implementations from the United States has landed on metals, this time centered on copper. As a reaction to a 50% tariff on copper trade with the United States, the open market price of the metal shot up by over 10% in a single day.

“The U.S. has been sucking in lots of copper that it didn’t really need from around the world,” Albert Mackenzie is a copper analyst at Benchmark Mineral Intelligence. President Trump had signaled that the tariffs were coming months ago, prompting many U.S. buyers to stockpile copper ahead of time.

U.S. President Donald Trump's announcement of a proposed 50% tariff on copper imports has raised concerns in Chile and Peru, which together account for nearly 40% of global copper production.

Comex copper for July delivery jumped 66.05 cents per pound, or 13%, to close at $5.645. That's a record high and the biggest single-day gain ever for copper, according to Dow Jones Market Data. The metal is up 41.6% year to date and up 23.3% over the past 52 weeks. In after-hours trading, the metal traded at $5.48 per pound, according to FactSet.

Brazilian President Luiz Inácio Lula da Silva has said he is ready to match any tariffs imposed on Brazil by the United States. Lula was responding to Wednesday's threat by his US counterpart, Donald Trump,