President Donald Trump has signed a proclamation amending the Section 232 national security tariffs on certain aluminum, steel, and copper imports, thereby reducing some tariffs and introducing new categories.
The proclamation lowers tariffs on some steel and aluminum derivative products, including certain types of agricultural machinery and residential heating, air conditioning, and ventilation equipment, to 15% from 25% previously.
Mobile industrial equipment, such as bulldozers and forklifts, will now be subject to a 15% tariff “when imported from trade deal countries that are entitled to such treatment,” the White House said.
Foreign companies can qualify for a 10% tariff if “their capital equipment includes at least 85% U.S. melted and poured or smelted and cast steel or aluminum by weight.”
The order also expands the list of products subject to 25% tariffs, adding two new categories: steel racks and aluminium lithographic plates.
The changes will be effective for goods imported or withdrawn from bonded warehouses after 12:01 a.m. EST on June 8 and would remain in place until December 31, 2027, “to spur near-term investments” aimed at rebuilding the American industrial base.
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