Trump Signs Proclamation Amending Tariffs On Steel, Aluminium And Copper Imports

(MENAFN- Khaleej Times) US President Donald Trump on Monday signed a proclamation amending his Section 232 national security tariffs on some aluminium, steel and copper imports, the White House said.

The proclamation lowers tariffs on some steel and aluminium derivative products, including certain types of agricultural machinery and residential heating, air conditioning and ventilation equipment, to 15% from 25% previously.

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It makes mobile industrial equipment, such as bulldozers and forklifts, subject to a 15% tariff "when imported from trade deal countries that are entitled to such treatment", the White House said in a statement.

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The order also allows foreign companies to qualify for a 10% tariff if "their capital equipment includes at least 85% US melted and poured or smelted and cast steel or aluminium by weight".

The order adds two new categories of steel and aluminium derivative import products that will be subject to 25% duties: steel racks and aluminium lithographic plates.

The adjustments will become effective for goods imported or withdrawn from bonded warehouses after 12.01am EST (0401 GMT) on June 8.

The changes will remain in place until December 31, 2027, "to spur near-term investments that will rebuild the nation's industrial base", the White House said.

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