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.

Copper is used in a wide variety of products from electronics, wiring, machinery and cars. The U.S. produces a majority of the copper it uses but still imports large quantities, primarily from

President Trump said Tuesday that an ongoing investigation of tariffs on copper will end with 50% duties on the metal, and he threatened 200% tariffs on pharmaceuticals.

Copper shipments into the United States are expected to accelerate in the coming weeks in a final scramble to get metal across the border before U.S. President Donald Trump's higher than expected 50% tariff on imported copper takes effect.

Trump and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.

Donald Trump has revived his threat to hit major trading partners with steep “reciprocal” tariffs even as he granted a three-week reprieve for countries to negotiate trade deals with the US.

Copper and other industrial metals extended losses after US President Donald Trump injected fresh uncertainty into his trade agenda with a pledge to impose a 10% tariff on countries aligned with the BRICS bloc of nations.

Trump's tariff announcement delays implementation to August, impacting 14 countries. Markets fall as currencies weaken and exporters decline. Key levels analysed.