With Korea, China and Japan getting hit with higher tariffs, I expect all sorts of electronics from cell phones to PC's to go up. Now something which won't help prices - either for home construction, electric grid enhancement (required to support everything from AI to EV's there's this:
edition.cnn.com - Trump copper tariff

President Donald Trump said Tuesday he’s imposing a new 50% tariff on all copper. However, it’s unclear when the new tariff would take effect.

“Today we’re doing copper,” he said at a Cabinet meeting, adding that he believed the rate will be 50%.

This would mark the fourth across-the-board tariff Trump has imposed during his second term. Currently, imported cars and car parts face a 25% tariff while imported steel and aluminum face 50% tariffs.

Copper prices surged to all-time highs after Trump said he plans to levy tariffs on the red metal. The most actively traded copper futures contract in New York jumped as much as 15% and hit a record $5.66 per pound.

Copper prices have soared 38% this year as Trump’s tariffs are set to hike the cost of importing the metal, a reflection of the stockpiling occurring to get ahead of tariffs.

If gold is not subject to US tariffs, this may throw the functionality of the gold:copper ratio out of whack.

Jeff

Jeff