Freeport-McMoRan could see a $1.6-billion boost to annual profit if President Donald Trump's copper tariff materializes, a benefit driven by the firm's role as the largest U.S. producer with more expansion options than rivals.

The president has published just 22 letters, many to minor trading partners like Brunei, Moldova and Sri Lanka.

President Trump will wield 50% copper tariffs on August 1 as he promises more to come with countries such as Brazil in the crosshairs. Delta’s good news, Nvidia scores the first $4 trillion market cap milestone,

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,

U.S. President Donald Trump's announcement of a proposed 50% tariff on copper imports has raised concerns in Chile and Peru, which together account for nearly 40% of global copper production.

President Trump is threatening new 50% tariffs on copper and up to 200% on pharmaceutical imports. He also announced new tariffs on six countries. NBC News' Vaughn Hillyard reports the latest. Veda Partners Managing Partner Henrietta Treyz and University of Michigan Professor of Economics and Public Policy Justin Wolfers join Katy Tur to break down the economic impact of Trump's policies on Americans.

Brazilian President Luiz Inacio Lula da Silva responded to Trump's letter by issuing a statement saying that any unilateral measure to increase tariffs would be met with a response in accordance with Brazilian law.

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.