This is a straight win and should have been done long ago. We did it in Canada a decade ago and prices are rounded up or down to the nearest nickel if you’re paying cash. If you pay by card, you pay the exact price. No one misses pennies here and it’s the same in other countries that have done it.
Now Trump didn’t say that’s what they’re going to do but if you stop producing them, eventually you run out.
As for market impacts, US pennies are made from 97.5% zinc and 2.5% copper so I’d imagine zinc prices will come under some pressure.