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.

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

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.

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.

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

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.