President Donald Trump signed executive actions on Wednesday implementing a crippling 50% tariff on Brazil as well as a 50% tariff on certain copper products, the White House said, in the latest escalation of his administration’s aggressive trade war.

U.S. copper prices plunged in late trading 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 sai

Copper traded in New York dropped about 18 per cent to $4.60 a pound in tumultuous trading after the president’s announcement. Futures had surged to a record high of nearly $6 earlier this month when Trump announced the copper tariffs, but declined to provide specific details on which products they would apply to.