The White House announced that U.S. President Donald Trump has signed an executive order modifying customs tariffs on certain imports of copper, aluminum, and iron.
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The proclamation reduces tariffs on certain products derived from steel and aluminum derivatives—including specific types of agricultural machinery and residential heating, ventilation, and air conditioning (HVAC) equipment—to 15%, down from 25% previously.
In a statement, the White House noted that the decree subjects mobile industrial equipment, such as bulldozers and forklifts, to a 15% tariff "when imported from countries that have qualifying trade agreements with the United States."
The order also qualifies foreign companies for a lower 10% tariff if their "capital equipment incorporates at least 85% steel or aluminum by weight that was melted and poured in the United States."
Additionally, the decree introduces two new categories of imported steel and aluminum derivative products that will be subject to a 25% tariff: steel racking systems and aluminum lithographic printing plates.
The modifications will take effect for goods entered for consumption, or withdrawn from warehouse for consumption, after 12:01 a.m. Eastern Daylight Time (04:01 GMT) on June 8.
The White House stated that these changes will remain in place until December 31, 2027, "to incentivize short-term investments that will rebuild the United States' manufacturing base."
Reuters
