Manufacturers and construction companies — as well as consumers — would face higher prices if the U.S. jacks up tariffs on copper, analysts said.

Donald Trump announced a 50% tariff on copper imports into the US. This decision worries India's electronics and semiconductor industries. India relies on imported high-purity copper. The tariff could disrupt India's chip manufacturing efforts.

President Trump wants America to produce more of the much-needed mineral, but a 50 percent tariff could undermine his aim of a manufacturing renaissance.

Copper miners remain bullish on the metal's future prospects even as a looming 50% U.S. tariff creates short-term price volatility, Barrick Mining Corp CEO Mark Bristow said in Zambia, where the company is expanding its operations.

Craig Hutchison, TD Cowen base metals equity research analyst, joins 'Squawk Box' to discuss which stocks can benefit from Section 232 tariffs, the broader goal of tariffs on copper and much more.

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.

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.

Michael Widmer, BoA Securities head of metals research, joins 'Money Movers' to discuss the market moves in the metal commodities space.