Trump signs proclamation changing tariffs on steel, aluminum and copper imports

The President of the United States, Donald Trump, signed on Monday (1st) a proclamation that changes part of the tariffs applied based on Section 232, a mechanism used by the American government to impose taxes on imports considered strategic for national security, the White House reported.
The measure reduces tariffs on some products derived from steel and aluminum, including certain agricultural equipment and residential heating, air conditioning and ventilation systems, from 25% to 15%.
The new rule also establishes a 15% tariff for mobile industrial equipment, such as excavators and forklifts, when imported from countries that have trade agreements with the United States and meet the conditions set by the government.
In addition, foreign companies may qualify for a reduced tariff of 10% if their equipment contains, by weight, at least 85% steel or aluminum produced and processed in the United States.
The proclamation also adds two new categories of products to the list of items subject to the 25% tariff: steel racks and aluminum lithographic plates.
The changes come into effect for goods imported or removed from bonded warehouses from June 8th and will remain in force until December 31st, 2027.
According to the White House, the objective is to stimulate short-term investments and strengthen the American industrial base.

Source: G1