US widens 50 pc tariff on derivative aluminum, steel products
WASHINGTON: The US Commerce Department said on Tuesday that 50% tariffs have taken effect on 407 additional product categories containing aluminium or steel.
The new tariffs expand the list of goods subject to Section 232 duties on steel and aluminium imports, covering wind turbines and their parts, mobile cranes, bulldozers, railcars, furniture, compressors, pumps and hundreds of other products.
US customs brokers and importers had little time to prepare for the abrupt move, which quietly took effect on Monday and applies even to goods already in transit. It is unclear whether the metals levies stack on top of country-specific tariffs.
“Today’s action expands the reach of the steel and aluminium tariffs and shuts down avenues for circumvention — supporting the continued revitalisation of the American steel and aluminium industries,” said Jeffrey Kessler, Under Secretary for Industry and Security at the US Commerce Department.
The agency identified newly targeted goods only by customs codes, such as 8424.10.0000 for fire extinguishers, making it hard for the public to determine which products are affected.
In early June, US President Donald Trump raised the tariff on steel and aluminium imports from 25% to 50%, invoking Section 232 of the Trade Expansion Act 1962, the International Emergency Economic Powers Act, Section 301 of Title 3 of the United States Code and Section 604 of the Trade Act 1974.
In late July, Trump announced a 50% levy on copper-based products, effective August 1.
Experts warned that the sector-specific tariffs would have a vast impact. The levies “will likely ripple through the manufacturing supply chain, raising production costs across construction, automotive and electronics sectors,” CNN reported, citing an analysis.
By RSS/Xinhua
