The president stopped short of putting a 50 percent tariff on refined copper, as he had threatened earlier this year. The market reaction was swift anyway and prices tumbled.

The United States will impose a 50% tariff on copper pipes and wiring, President Donald Trump said on Wednesday, but details of the levy fell short of the sweeping restrictions expected and left out copper input materials such as ores,

The Trump administration on Wednesday announced anticipated tariffs on copper, levying different duties on finished products versus refined copper. The White House in February announced an investigation into copper to lay the groundwork for potential tariffs on the metal.