Trump on Wednesday announced a new 50% tariff on copper starting Aug 1, in a bid to promote domestic development of an industry critical to defense, electronics and automobiles.

Reuters could not immediately verify the report. The White House did not immediately respond to a request for comment.

“Copper is necessary for semiconductors, aircraft, ships, ammunition, data centres, lithium-ion batteries, radar systems, missile defense systems, and even hypersonic weapons, of which we are building many,” Trump said in a Truth Social post yesterday.

The White House ordered a Section 232 investigation into copper imports in February, using a law that gives the president authority to impose higher tariffs based on national security grounds.

The move marks the latest in a string of sectoral tariffs Trump has placed on industries, such as steel and aluminium that economists warn will drive up costs for American consumers.