Trump reduces tariffs on steel, aluminum and copper derivatives

9 hours ago

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Washington, April 3, 2017 – US President Donald Trump decided to amend the customs duties he imposed on imports of steel, aluminum, and copper, to reduce duties on derivatives made from these metals, simplify compliance procedures, and avoid manipulation of import values.

The White House stated, in a statement today, that the United States will maintain, in accordance with the declaration signed by the US President, a 50 percent import duty on imports of steel, aluminum and copper under Article 232 of the Trade Act of 1974, provided that this percentage is applied to the prices paid by American customers.

The White House explained that customs duties on some industrial equipment and electrical network equipment that use large quantities of metals will be reduced from 50 percent to 15 percent until 2027 to accelerate the pace of industrial expansion.

For his part, a high-ranking official said that the changes include canceling the previous customs duties of 50 percent on derivative products made of steel, aluminum and copper, if the product’s metal content is less than 15 percent by weight.

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