News & Publications
Trump Proclaims More Tariffs on Aluminum and Steel
On Friday, January 24, 2020, President Trump proclaimed that beginning February 8th, additional tariffs will be added to the pre-existing Section 232 of the Trade Expansion Act of 1962. In an attempt to bolster the domestic steel production rate, the president has imposed tariffs on articles derivative of steel and aluminum (articles that contain at least two-thirds of steel or aluminum). According to the proclamation, the expanded duty rates are as follows:
- An additional 25 percent ad valorem tariff will be imposed on imported steel articles of foreign manufacture such as nails, tacks, staples, and bumper and body stampings.
(Excludes imports manufactured in Argentina, Australia, Canada and Mexico)
- An additional 10 percent ad valorem rate of duty will be imposed on articles of Aluminum such as stranded wires and cables, and bumper and body stampings.
(Excludes imports manufactured in Argentina, Australia, Brazil, Canada, Mexico, and South Korea)
This decision is the result of the domestic steel industry not meeting the 80 percent capacity utilization target set by the Trump administration to address the proposed threat to national security.
For information on whether your imports will be affected by the expansion, please contact Allyn International at customs@allynintl.com.
Contributor: Kyle James
About Allyn International
Allyn International is dedicated to providing high quality, customer-centric services and solutions for the global marketplace. Allyn's core products include transportation management, logistics sourcing, freight forwarding, supply chain consulting, tax management and global trade compliance. Allyn clients range from small local businesses to Fortune 500 firms. Allyn conducts business in more than 20 languages and has extensive experience in both developed and emerging markets. Highly trained experts are positioned throughout North and South America, Europe and Asia. Allyn’s regional headquarters are strategically located in Fort Myers, Florida, U.S.A., Shanghai, P.R. China, Prague, Czech Republic, and Dubai, U.A.E. For more information, visit www.allynintl.com.