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.

Investors have had their fair share of things to digest this week. Trump the tariff man has returned in force. The president slapped a 50% tariff on copper imports, powering shares of metals play Freeport-McMoRan (FCX) up almost 5% on the week.

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,

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.

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.

Global stocks advanced on Thursday, underpinned by optimism around artificial intelligence and the prospect of upcoming interest rate cuts, while investors kept a cautious eye on U.S. President Donald Trump's tariff actions and their impact on global trade.