Copper is used in a wide variety of products from electronics, wiring, machinery and cars. The U.S. produces a majority of the copper it uses but still imports large quantities, primarily from

US stocks fell on Friday after President Donald Trump threatened a 35% tariff on Canada — a sharp escalation in an ongoing trade war. The Dow closed lower by 279 points, or 0.63%. The broader S&P 500 fell 0.

The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.

The S&P 500 followed a record-breaking Thursday by dipping 0.33% Friday after President Donald Trump said he would impose a 35% tariff on Canada on August 1. The stock market dipped on Friday after President Donald Trump issued his latest tariff threat against Canada.

Major stock indexes were slightly lower on Friday as U.S. President Donald Trump's announcement of tariffs on imports from Canada fanned worries about trade tensions, with the Canadian dollar down against the greenback.

Trump's tariffs have led some companies to announce that they plan to raise prices.Even before his so-called "Liberation Day," companies warned they would pass costs on to shoppers.BI is keeping track of companies that said they'd raise prices due to tariffs — and those who already have.

Canada faces another set of tariffs in its ongoing trade talks with the U.S. However, in this latest round of tariff announcements, investors have learned to largely tune them out as negotiating bluster rather than policy commitments.

U.S. President Donald Trump's threat of a 50% tariff on copper imports is raising alarm in the U.S. auto sector, as it could make it even harder for carmakers and suppliers to absorb border taxes and rising costs,