In a sweeping move to protect national security and domestic manufacturing, President Donald J. Trump has announced a major revision to Section 232 tariffs, significantly increasing levies on imported steel, aluminum, and other foreign goods.
On February 10, President Trump announced 25% tariffs on all steel and aluminum imports entering the U.S., set to take effect on March 12. All previous agreements on steel and aluminum trade with partners including Argentina, Australia, Brazil, Canada, the EU, Japan, Mexico, South Korea, Ukraine, the UAE, and the UK will be terminated on that date. Additionally, a 25% tariff will be applied to all steel products and derivatives from Turkey.
The administration has also eliminated all exclusions and exemptions, effective February 11, with all generally approved exclusions expiring on March 12. However, importers with existing exclusions for steel or aluminum products will retain them until the expiration date or until their excluded volume is exhausted, whichever comes first. Customs and Border Protection (CBP) has been instructed to prioritize classification reviews of steel and its derivative products, imposing strict penalties for misclassification without considering mitigating factors.
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