Trump said on Tuesday that he would impose a 50% tariff on copper. Though the remarks were light on specifics, his comments sent the metal to all-time highs.

Futures contracts hit a record price after the president announced plans for a 50 percent tariff on the metal, driving up costs for businesses.

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.

President Trump is threatening new 50% tariffs on copper and up to 200% on pharmaceutical imports. He also announced new tariffs on six countries. NBC News' Vaughn Hillyard reports the latest. Veda Partners Managing Partner Henrietta Treyz and University of Michigan Professor of Economics and Public Policy Justin Wolfers join Katy Tur to break down the economic impact of Trump's policies on Americans.

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.

Copper and pharmaceuticals are getting hit with the tariff stick and the price is steep says President Trump who is promising more trade deals. Stocks remain volatile amid the uncertainty, but investors are piling into Nvidia lifting its market cap to new record.

President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other nations that would go into effect on Aug. 1.