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 for the metal hit a record high after the president suggested a higher rate than many analysts were expecting.

Glencore, the Swiss mining and metals trading giant that mines copper in Ontario and processes it in Quebec, both imports e-waste from the U.S. as feedstock for its smelter and also ships products to the U.S.