President Donald Trump mentioned Tuesday — almost in passing — that he planned to impose a 50% tariff on copper imports. It still hit like a bombshell, with potential to shake up U.S. efforts to expand, develop and deploy artificial intelligence.

Copper futures rose dramatically following President Trump's plan for a 50% import tariff, pushing domestic prices to a 25% premium over global markets amid growing demand.

Prices for the metal hit a record high after the president suggested a higher rate than many analysts were expecting.