U.S. President Donald Trump on Tuesday ordered a probe into possible tariffs on copper imports to rebuild U.S. production of a metal critical to electric vehicles, military hardware, semiconductors and a wide range of consumer goods.

"American industries depend on copper, and it should be made in America, no exemptions, no exceptions," Commerce Secretary Howard Lutnick said.

A Trump administration investigation into copper imports has led to an after-hours rise of 20 cents per pound in Comex copper’s value.