Trump reduces tariffs on steel, aluminum, copper derivatives

WASHINGTON: US President Donald Trump has decided to adjust the tariffs imposed on imports of steel, aluminum, and copper to reduce duties on derivatives made from these metals, simplify compliance procedures, and prevent manipulation of import values.

The White House stated in a briefing Thursday that under the proclamation signed by the President, the United States will maintain a 50% import duty on steel, aluminum, and copper imports under Section 232 of the Trade Act of 1974.

This rate will apply to the prices paid by American customers.

The White House explained that tariffs on certain industrial equipment and electrical grid components that use significant quantities of these metals will be reduced from 50% to 15% until 2027 to accelerate the pace of industrial expansion.

A senior official noted that the changes include the elimination of the previous 50% tariff on derivative products made from steel, aluminum, and copper if the metal content of the product is less than 15% by weight.