U.S. President Donald Trump has signed a new proclamation changing Section 232 national security tariffs on selected steel, aluminum and copper imports, with revised duties set to take effect on June 8.
The White House said Monday the order reduces tariffs on some steel and aluminum derivative products from 25 per cent to 15 per cent. The lower rate applies to certain agricultural machinery and residential heating, ventilation and air conditioning equipment.
The proclamation also places a 15 per cent tariff on mobile industrial equipment, including bulldozers and forklifts, “when imported from trade deal countries that are entitled to such treatment,” the White House said in a statement.
Foreign companies may also qualify for a 10 per cent tariff if “their capital equipment includes at least 85 per cent U.S. melted and poured or smelted and cast steel or aluminum by weight.”
While some tariff rates will drop, the proclamation adds two new steel and aluminum derivative product categories to the 25 per cent duty list: steel racks and aluminum lithographic plates.
The revised tariffs will apply to goods imported into the United States or withdrawn from bonded warehouses after 12:01 a.m. EST, 0401 GMT, on June 8.
White House Says Changes Aim To Rebuild U.S. Industrial Base
The White House said the tariff adjustments will remain in place until Dec. 31, 2027 “to spur near–term investments that will rebuild the Nation’s industrial base.”
