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U.S. Adjusts Tariffs on Metal Imports to Simplify Processes

03/04 08:03

U.S. President Donald Trump signed a statement on Thursday, local time, adjusting national security tariffs on steel, aluminum, and copper imports. According to BlockBeats, the changes aim to reduce tariff rates on derivative products, simplify declaration processes, and prevent misreporting of import values. The statement outlines that the U.S. will maintain a 50% import tariff on commodities such as steel, aluminum, and copper, which will apply to the prices paid by American consumers. Additional changes include the removal of the 50% tariff on derivative products made from these metals, provided their metal content by weight is below 15%. This move will eliminate the Section 232 tariffs on products with minimal metal content. U.S. officials noted that these adjustments are not expected to significantly impact the economy compared to the previous tariff system. However, imposing a 50% tariff on the total sales value of commodity metals may generate some additional tariff revenue.

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