US expands 50% tariffs on steel, aluminum to more derivative products
The Trump administration announced on August 15 that it will broaden the scope of its 50 per cent tariffs on steel and aluminum imports, extending the duties to hundreds of steel and aluminum derivative products with the metal content starting from August 18.
According to a Federal Register notice, the US Commerce Department's Bureau of Industry and Security has added 407 product codes to the US Harmonized Tariff Schedule. These codes cover goods containing steel or aluminum, which will now be subject to the 50 per cent tariff rate based on their steel and aluminum content.
Non-steel or non-aluminum components of these products will continue to be taxed at previously established tariff levels for imports from specific countries, the notice clarified.
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