President Donald Trump said the US would begin levying a 50% tariff on copper imports from Aug. 1, confirming a move that will batter producers of everything from automobiles to homes and appliances who rely on the industrial metal.

"America will, once again, build a DOMINANT Copper Industry," Trump said in a post on his Truth Social media platform.

U.S. President Donald Trump announced on Wednesday a 50% tariff on copper, saying on social media that it would be effective August 1 and that the decision was made after a national security assessment.