Universal Steel and Aluminum Tariffs on the Way

President Trump has announced increased tariffs on steel and aluminum products, stepping up the measures he introduced in 2018 under Section 232 of the Trade Expansion Act of 1962.

As of March 12, several measures will go into effect increasing the scope of duties on imports of steel and aluminum:

• Exemptions and exceptions to the original 2018 scope of the Section 232 steel tariffs will be removed: imports of steel articles and derivative steel articles from Argentina, Australia, Brazil, Canada, EU countries, Japan, Mexico, South Korea, and the United Kingdom will be subject to additional 25% duties ad valorem
• Aluminum products will be taxed at 25% as well, increasing from 2018’s 10%
• The tariffs will cover all steel articles and derivative steel articles, except for derivative steel articles processed in another country from the steel articles that were melted and poured in the US
• For steel derivative articles classified elsewhere than CH 73 of the USHTS, additional duties will apply to the steel content of said articles

These increased duties will affect most strongly the major countries the US currently imports steel from: Brazil, Mexico, South Korea, and especially the US’s #1 supplier of steel, Canada.  Additional information on the implementation of these duties will be implemented by US Customs “as soon as practicable.”

Allyn International’s service suite includes consultation on current and developing issues in the US trade community. Reach Allyn Here for a consultation or, contact us sales@allynintl.com or 239-489-9900.

Contributor: Andrew Dosher 

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