Flat 25% is a myth, US tariffs can go upto 50% (read 225%) for global businesses!
Okay, first things first to be straightened out — the US aluminium and steel tariff implemented is not the only tariff that businesses have to pay while exporting commodities to the nation’s backyard. If a country was paying a 10 per cent tariff to export aluminium goods to the US, they are now not paying 25 per cent but a 35 (10+25) per cent tariff for the good. All of the secrets lie in the word 'additional'!
Image for representational purposes only
In February 2025, the US administration reinstated and broadened Section 232 tariffs, imposing a flat 25 per cent ad valorem duty on all steel and aluminium imports, effective from March 12, 2025. The tariffs were imposed through Presidential Proclamations 10895 and 10896, signed on February 10, 2025.
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