The president stopped short of putting a 50 percent tariff on refined copper, as he had threatened earlier this year. The market reaction was swift anyway and prices tumbled.

Imports of certain copper products into the US face a 50% tariff from Aug. 1 as President Donald Trump seeks to revive the domestic supply chain and make the country less reliant on foreign sources of this critical material.

U.S. copper prices plunged after President Trump unveiled 50% tariffs on copper products, but not on the raw material itself. Copper prices surged to records this month after Trump said he would impos