The US is preparing to introduce a tiered tariff structure on steel and aluminium, marking one year since President Donald Trump’s “Liberation Day” tariffs reshaped global trade flows.

According to reports, the administration plans to retain 50 per cent tariffs on a wide range of products, with duties calculated based on the value of imported goods.

Businesses continue to deal with changing trade policies, including the Supreme Court’s decision to overturn tariffs imposed under the International Emergency Economic Powers Act (IEEPA), alongside rising energy costs due to the Middle East conflict.

The aluminium market has been sensitive to tariff fluctuations recently and other current conflicts because of its reliance on global supply chains and imports. Higher duties have already caused price volatility and shifting trade routes, especially for downstream users such as automotive, construction, and packaging sectors.

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Manufacturers dependent on imported material could face higher input costs, which is not the case for domestic producers. This balance between protecting local production and maintaining supply remains a key issue as the tariff model evolves. 

The current measures are built on earlier US tariff actions on aluminium, introduced in 2018, which imposed a 10 per cent tariff in the US on all aluminium imports in the country. Even with this, the US continues to depend heavily on imports according to the US Geological Survey (USGS Mineral Commodity Summaries 2026), showing that imports are still a big part of the domestic aluminium consumption. A Reuters report on 26th of January pointed out that tariffs have already increased the costs for US buyers, which made them look for alternative sources. 

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Last month, the European Parliament resumed progress on a US-EU agreement. The process had stalled following the court’s ruling on tariffs and broader geopolitical tensions earlier this year.

At present, the US has imposed a 10 per cent tariffs surge which is applicable broadly across imports for up to 150 days, separate from higher duties on aluminium, according to an earlier EY post from February, with the possibility of these increasing to 15 per cent as additional measures are considered. This is to counter “fundamental international payment problems” Section 122 of the Trade Act of 1974, which permits the temporary imposition of tariffs of up to 15 per cent in cases of "large and serious" balance-of-payments deficits, according to the same EY post. 

In March, the administration also launched investigations into 60 countries under Section 301 of the Trade Act of 1974 to assess unfair trade practices. China is conducting its own investigations into US trade actions, setting up discussions between President Trump and President Xi Jinping expected in May.

Separately, tariff-related developments are continuing to unfold. A federal ruling has directed the US government to issue refunds of more than USD 130 billion to businesses, with over 2,000 companies, including Costco and FedEx, filing claims. US Customs is working on a process to allow companies to submit refund applications online as well.

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