Manufacturers and construction companies — as well as consumers — would face higher prices if the U.S. jacks up tariffs on copper, analysts said.

President Trump will wield 50% copper tariffs on August 1 as he promises more to come with countries such as Brazil in the crosshairs. Nvidia scores the first $4 trillion market cap milestone, lifting the Nasdaq to a record.

U.S. President Donald Trump's announcement of a proposed 50% tariff on copper imports has raised concerns in Chile and Peru, which together account for nearly 40% of global copper production.

Oil prices were steady on Wednesday as investors weighed strong U.S. gasoline demand data and attacks on shipping in the Red Sea, while U.S. copper tariffs loomed. Brent crude futures settled up 4 cents,

U.S. stock futures are higher as investors eye President Donald Trump's next tariff move and minutes from the last Federal Reserve policy meeting.

As part of President Donald Trump’s “Liberation Day” efforts, Vietnamese businesses importing American goods will not have to pay taxes to import these goods. On the other hand, American businesses importing Vietnamese goods will have to pay taxes of 20% to 40%.

In letters so far to 14 countries, including smaller exporters to the United States such as Serbia, Thailand and Tunisia, Trump hinted at opportunities for additional negotiations, even while warning that reprisals would draw a like-for-like response.