U.S. President Donald Trump's announcement of a proposed 50% tariff on copper imports has raised concerns in Chile and Peru, which together account for nearly 40% of global copper production.

Prices of copper in the US have surged since January, when President Donald Trump threatened to impose a tariff on imports of the metal that’s a vital component in power networks, plumbing and industrial machinery.

SANTIAGO/MEXICO CITY, July 9 (Reuters) - Top officials in Chile and Mexico said on Wednesday they could seek markets elsewhere to avoid tariffs from the Trump administration, a day after U.S. President Donald Trump said he would soon announce a 50% tariff on the red metal.