According to the White House on June 1, President Trump signed a proclamation adjusting the tariff system for steel, aluminum, and copper imports under Section 232 of the Trade Expansion Act. This section allows the president to impose tariffs or other import restrictions if certain imports are deemed a threat to U.S. national security.
The key factor is the proportion of U.S.-made metals in the products. Imported goods that contain at least 85% U.S. steel, aluminum, or copper by weight will qualify for a 10% tariff rate. This structure favors products that use a high percentage of U.S. materials, applying a lower preferential tariff rate rather than a straightforward tariff reduction.
Additionally, tariffs on some agricultural and industrial equipment will also be reduced. The Wall Street Journal reported that tariffs on certain heavy machinery, including combines, harvesters, bulldozers, and forklifts, will be adjusted to 15%. This move aims to alleviate cost burdens for manufacturers and farmers using this equipment.
Conversely, the scope of tariff applications has been expanded. The proclamation includes steel racks and aluminum flat printing plates as new tariff subjects. Reuters reported that these items will be subject to a 25% tariff.
The new tariff adjustments will take effect on August 8 and will remain in place until the end of 2027.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.