US imposes 25% tariffs on steel, aluminum, and copper derivatives, White House says

Trump adjusted his National Security tariffs on steel, aluminium, and copper imports on Thursday to cut duty rates on derivative products made with the metals, simplify compliance and avoid under-reporting of import values.
In a proclamation signed by Trump, the U.S. will maintain a 50% import tariff on Steel, aluminium, and copper commodity imports under Section 232 of the Trade Act of 1974, but apply the rate to the prices paid by US customers, a Senior Trump administration official said.
It was not immediately clear how the sales price -- and resulting tariff -- would be determined.
US official says metals duty adjustments should not have a material economic impact but will simply be a tariff regime.
US to eliminate steel, aluminium, and copper tariffs on derivative products if the metal content is below 15% by weight.
US to reduce tariffs on other steel, aluminium, and copper derivative products to 25% applied to the full value of the product.
To maintain 50% duty on steel, aluminium, and copper commodity imports, but apply that rate to the full value paid by US customers, not claimed import values.
Adjustments to steel, aluminium, and copper tariffs are to simplify compliance on derivative products and will avoid artificially-reduced import values.

Related Links