Trump amends tariffs on steel, aluminium, and copper imports
US President Donald Trump on Monday signed a proclamation that modifies his Section 232 national security tariffs on certain aluminium, steel, and copper imports, according to the White House. The proclamation reduces tariffs on select steel and aluminium derivative products, encompassing specific categories of agricultural machinery as well as residential heating, air conditioning, and ventilation equipment, decreasing the rate from 25% to 15%.
The White House stated that mobile industrial equipment, including bulldozers and forklifts, is subject to a 15% tariff when imported from trade deal countries that qualify for such treatment. The order also permits foreign companies to qualify for a 10% tariff if “their capital equipment includes at least 85% US melted and poured or smelted and cast steel or aluminium by weight.” The order introduces two additional categories of steel and aluminium derivative import products that will incur a 25% duty: steel racks and aluminium lithographic plates.
The adjustments will take effect for goods imported or withdrawn from bonded warehouses after 12:01 a.m. on June 8. The changes will remain in place until December 31, 2027 “to spur near-term investments that will rebuild the Nation’s industrial base,” the White House stated.
