Trump amends tariffs on imported steel, aluminum, copper
Key takeaways
- Trump initially imposed 25 percent tariffs on aluminum and steel derivative products on April 2.
- These products also serve an important role in productive domestic economic activity, the proclamation states.
- It also notes that aluminum lithographic plates and steel racks are subject to the 25 percent tariffs that Trump imposed on derivative products in April.
Why this matters: political developments that affect policy direction and public trust.
In a proclamation, the president lowered tariffs on some aluminum and steel derivative products, including agricultural equipment and certain heating, air conditioning and ventilation (HVAC) systems, from 25 percent to 15 percent.
Trump initially imposed 25 percent tariffs on aluminum and steel derivative products on April 2. In doing so, he cited Section 232 of the Trade Expansion Act of 1962 — which gives the president the authority to impose restrictions on imports under national security grounds.
The president stated that Commerce Secretary Howard Lutnick recommended that he reduce those tariffs, citing recent circumstances that have affected and are affecting domestic industries that use the aforementioned equipment.