Trump Signs Proclamation Adjusting Steel, Aluminum, Copper Tariffs

ISTANBUL, June 2 (Bernama-Anadolu) -- US President Donald Trump signed a proclamation Monday adjusting tariffs on steel, aluminium and copper imports, the White House said in a statement, Anadolu Ajansi (AA) reported. 

“The proclamation adjusts the tariffs on agricultural equipment, like combines and harvesters, as well as certain other equipment, from 25 per cent to 15 per cent,” the statement said.

It also “expands the existing category of industrial equipment subject to a 15 per cent tariff to include mobile industrial equipment, like bulldozers and forklifts, when imported from trade deal countries that are entitled to such treatment.”

The order also “encourages foreign companies to use more US steel and aluminium by allowing them to qualify for a 10 per cent duty rate if their capital equipment includes at least 85 per cent US melted and poured or smelted and cast steel or aluminium by weight.”

These tariff changes are temporary and will last until Dec 31, 2027, “to spur near–term investments that will rebuild the nation’s industrial base," the statement added.

-- BERNAMA-ANADOLU