The administration of former U.S. President Donald Trump is set to significantly expand the scope of the 50% tariffs imposed on steel and aluminum imports.
On the 15th (local time), the U.S. Department of Commerce announced in a Federal Register notice that the Bureau of Industry and Security (BIS) will add 407 new product codes to the U.S. import product code system (HTSUS). As a result, a large number of derivative products containing steel and aluminum have been newly designated as subject to tariffs.
The Department of Commerce added that for components not containing steel or aluminum, the existing country-specific tariff rates previously imposed by President Trump will continue to apply. The new tariffs will take effect on the 18th.
Since June 4, the United States has been imposing a 50% tariff on steel and aluminum products.
Earlier, President Trump, speaking to reporters aboard Air Force One en route to Alaska for a U.S.-Russia summit, stated, "We will set tariffs on steel and semiconductors next week and the week after."
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