Freeport-McMoRan could see a $1.6-billion boost to annual profit if President Donald Trump's copper tariff materializes, a benefit driven by the firm's role as the largest U.S. producer with more expansion options than rivals.

Prices of copper in the US have surged since January, when President Donald Trump threatened to impose a tariff on imports of the metal that’s a vital component in power networks, plumbing and industrial machinery.

Copper futures dropped over 2% to $5.46 per pound on Friday, despite being poised for a weekly gain of around 10% with analysts at BMI pointing to sudden shifts in U.S. trade policy.

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

The commodity’s price is near a record high because of Trump’s trade war. It might be wise for investors to wait for a dip before easing in.

Copper futures rose dramatically following President Trump's plan for a 50% import tariff, pushing domestic prices to a 25% premium over global markets amid growing demand.

President Donald Trump announced on Wednesday night that the United States will impose a 50 percent tariff on copper, effective August 1. Trump wrote on Truth Social that he came to the decision after a "robust NATIONAL SECURITY ASSESSMENT."

What Happened in Markets Today Copper prices—and mining stocks—rose after Trump confirmed a 50% tariff on the metal will take effect Aug. 1. Prices for the [metal hit record highs](

Peru's economy is projected to have expanded just under 3% in the second quarter of 2025, central bank chief economist Adrian Armas said on Friday, adding that this remained in line with the bank's forecasts of 3.