Utah is well-positioned to benefit from a potential new tariff on U.S. copper imports thanks to it's rich natural resources and investment-friendly mining incentives.

President Donald Trump announced on Wednesday night that the United States will impose a 50 percent tariff on copper, effective August 1. Trump wrote on Truth Social that he came to the decision after a "robust NATIONAL SECURITY ASSESSMENT."

Trump announced a 50% tariff on copper imports Tuesday, triggering a jump in U.S. copper prices that could cause an increase in metal theft.