Trump Signs Proclamation to Hike Metals Tariffs to 50%
Steel and aluminum and their derivatives will be subject to 50% tariffs, not 25% tariffs, President Donald Trump wrote in a proclamation. The changes take effect at 12:01 a.m. June 4.
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However, steel and aluminum products from the U.K. will remain at 25% until July 9. At that point, or at a later date, the Commerce Secretary may create import quotas, "or he may increase the applicable rates of duty to 50 percent if he determines that the United Kingdom has not complied with relevant aspects of the [U.S.-UK] Economic Prosperity Deal."
The proclamation reverses the order of CBP's previous tariff stacking executive order so importers must pay the 50% steel and aluminum tariffs, rather than 25% tariffs on Canada and Mexico imposed under the fentanyl emergency. It also eliminates an exemption from reciprocal tariffs for goods subject to Section 232 steel and aluminum tariffs, though the reciprocal tariffs would only be due on any non-steel and aluminum content.