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,

The sector-specific tariffs are putting pressure on businesses and foreign nations as they try to navigate Trump's constantly evolving trade agenda.

Copper and pharmaceuticals are getting hit with the tariff stick and the price is steep says President Trump who is promising more trade deals. Stocks remain volatile amid the uncertainty, but investors are piling into Nvidia lifting its market cap to new record.

U.S. President Donald Trump on Tuesday said he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, broadening his trade war that has rattled markets worldwide.

Trump and his aides have repeatedly shifted their stance on tariffs since the president’s “Liberation Day” announcement.