U.S. President Donald Trump on Tuesday ordered a probe into possible tariffs on copper imports to rebuild U.S. production of a metal critical to electric vehicles, military hardware, semiconductors and a wide range of consumer goods.

An executive order mandates a review of the threats posed by over-reliance on foreign copper, and recommendations for increasing domestic supply.

President Donald Trump has made it clear that he is concerned about the United States’ dependence on foreign countries for much of its copper and is looking to boost domestic mining of the metal, but his efforts are likely to feed inflation and take years to reap rewards.

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

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

An executive order calls for boosting the domestic industry by investigating the national security implications of imports and weighing tariffs.

The officials, briefing reporters on condition of anonymity, said it was premature to discuss a potential rate for the tariffs. Copper futures in New York surged nearly 5% for their biggest intraday gain since May last year.

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.

President Trump issued an executive order (EO) requiring the US Department of Commerce (Commerce) to investigate the national

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The aide expressed concern that China could gain control of the world’s copper markets at the expense of the United States, whose companies he said have seen their share of both domestic and ...