On June 1, 2026, US President Donald Trump signed a proclamation amending tariffs on specific steel, aluminium, and copper imports as per Reuters news report.
The changes aim to adjust the existing Section 232 national security tariffs, impacting various derivative products.
The proclamation reduces tariffs on certain steel and aluminium derivative products from 25% to 15%. These include some types of agricultural machinery and residential heating, air conditioning, and ventilation equipment.
Mobile industrial equipment, such as bulldozers and forklifts, will also be subject to a 15% tariff when imported from trade deal countries eligible for this treatment.
2 new categories of steel and aluminium derivative import products will now be subject to 25% duties.
These include steel racks and aluminium lithographic plates. This adjustment is part of the broader strategy to encourage investments that will rebuild the US industrial base.
The order introduces a provision allowing foreign companies to qualify for a 10% tariff if their capital equipment comprises at least 85% US melted and poured or smelted and cast steel or aluminium by weight. This aims to incentivise the use of US materials in foreign manufacturing processes.
Read More: Gold Demand Drops Nearly 70% After Import Duty Hike!
The amended tariffs will take effect for goods imported or withdrawn from bonded warehouses after 12:01 a.m. EST on June 8, 2026.
These changes are set to remain in place until December 31, 2027, as part of efforts to bolster the national industrial infrastructure.
The amendments to the tariffs on steel, aluminium, and copper imports reflect a strategic shift in US trade policy. By reducing tariffs on certain products and introducing new categories, the proclamation seeks to balance national security concerns with economic growth objectives.
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Published on: Jun 2, 2026, 2:45 PM IST
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