The Aug. 1 deadline for Trump's 50% copper tariffs signals the endgame for the most profitable trade that industry veterans say they have ever seen.

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.

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

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.

The metal is used in manufacturing everything from automobiles to mobile phones.

As U.S. prices remain elevated despite larger-than-usual inventories, the gap in U.S. Comex futures over those on the LME has fluctuated between $500 and $1,500 since Trump announced a probe into copper in February. Historically, that rate has been near-zero, and was around the $150 level in 2024.

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 prices—and mining stocks—rose after President Trump confirmed a 50% tariff on the metal will take effect Aug. 1. Prices for the metal hit record highs earli