BlockBeats message: On April 3, local Thursday, U.S. President Trump signed a proclamation adjusting national security tariffs on steel, aluminum, and copper imports. The move is intended to lower tariff rates on metal-derived products, simplify the filing process, and avoid the overstatement of import values.
The proclamation states that the U.S. will maintain a 50% import tariff on imports of bulk commodities such as steel, aluminum, and copper, but this rate will apply to the prices paid by U.S. consumers. Other changes include: the U.S. will eliminate the 50% tariff on products derived from steel, aluminum, and copper, provided that the metal content (calculated by weight) of these products is below 15%. This will remove the Section 232 tariffs imposed on products with extremely low metal content.
U.S. officials said that overall, these changes are not expected to make much difference economically compared with the previous tariff regime. However, imposing a 50% tariff on the total sales value of commodity metals could generate some additional tariff revenue. (Jin10)
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