Trump signs proclamation amending steel, aluminum, copper tariffs effective June 8
U.S. steel, aluminum, and copper importers face a new tariff schedule from June 8. Reuters reports Trump signed a proclamation lowering duties on certain derivative products to 15% from 25%, with a 10% rate available for goods using at least 85% U.S.-sourced metal.
U.S. companies importing steel, aluminum, and copper derivatives are looking at a new tariff schedule starting June 8 after President Trump signed a proclamation on Monday amending Section 232 duties, Reuters reports. The new structure trims rates on a range of finished products while preserving the headline 25% rate on raw and primary metal imports. According to the White House fact sheet, duties on certain derivative goods, including agricultural machinery and residential heating, ventilation, and air-conditioning equipment, will drop to 15% from 25%. Mobile industrial equipment such as bulldozers and forklifts will also be tariffed at 15% when imported from countries that have negotiated trade agreements eligible for the lower rate. Foreign manufacturers can qualify for a further reduction to 10% if at least 85% of the steel or aluminum in their capital equipment, measured by weight, is U.S.-melted and poured or smelted and cast. The administration framed the order as an effort to channel investment back into American foundries and smelters. The new rates apply to goods imported or withdrawn from bonded warehouses after 12:01 a.m. EST on June 8 and remain in force through December 31, 2027. Importers with downstream manufacturing exposure, including HVAC, agricultural equipment, and construction-equipment supply chains, will need to recalculate landed costs by the end of the week. Trade-deal partners eligible for the 15% mobile-equipment rate also depend on case-by-case classification under the existing Section 232 framework.