President Donald Trump said the US would begin levying a 50% tariff on copper imports from Aug. 1, confirming a move that will hurt American producers of everything from automobiles to appliances.The higher-than-expected levy was signaled by Trump in comments to reporters on Tuesday,

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.

The president was following through on an earlier statement that he would target a key metal used for semiconductors, lithium ion batteries and more.