Copper futures surged after President Donald Trump ordered the US Commerce Department to examine possible imports tariffs on all forms of the metal.

Tariffs, if they are imposed, could boost U.S. production of a valuable resource but also raise costs for automakers, construction companies and others.

US President Donald Trump has ordered an investigation of copper imports in what is a first step toward potential tariffs on the metal. Administration officials said the White House wanted to find ways to boost US production of copper, a component used to make electric cars, ships and data centres that they said was vital to national security.

WASHINGTON (AP) — President Donald Trump on Tuesday directed the government to consider possible tariffs on copper, the latest move by the White House to tax a wide array of imports and reshape global trade.

President Trump ordered Commerce to study whether tariffs are needed to reduce the U.S. reliance upon imported copper, needed for military equipment, data centers and electric vehicles.

U.S. President Donald Trump on Tuesday opened yet another front in his assault on global trade norms, ordering a new probe into possible new tariffs on copper imports to rebuild U.S. production of a metal critical to electric vehicles,

President Trump on Tuesday directed his Commerce secretary to investigate the need for possible tariffs on copper, the latest industry to potentially be targeted by Trump’s sweeping trade agenda.

President Trump ordered the U.S. government to explore potential new tariffs on copper imports, his latest move to tax a wide selection of imports and reshape global trade.

The White House suggested Tuesday there is a strong case for copper import protections because the metal is an essential component of military hardware.