U.S. President Donald Trump's plans to impose 50% tariffs on copper would include semi-finished products such as those used for power grids, the military and data centers, Bloomberg News reported on Thursday,

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.

The sector-specific tariffs are putting pressure on businesses and foreign nations as they try to navigate Trump’s constantly evolving trade agenda.

Copper shipments into the United States are expected to accelerate in the coming weeks in a final scramble to get metal across the border before U.S. President Donald Trump's higher than expected 50% tariff on imported copper takes effect.

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

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.

Chilean copper miner Antofagasta sees opportunity for its stalled copper project in the U.S. following President Donald Trump's move to impose 50% import tariffs on the metal, CEO Ivan Arriagada said on Thursday.

Trump and his aides have repeatedly shifted their stance on tariffs since the president’s “Liberation Day” announcement.