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.

By Daina Beth Solomon, Fabian Cambero and Ana Isabel Martinez SANTIAGO/MEXICO CITY (Reuters) -Top officials in Chile and Mexico said on Wednesday they could seek markets elsewhere to avoid tariffs from the Trump administration,