The US sees the need to adjust tariffs to protect local producers

Donald Trump’s administration has identified a list of 167 steel derivatives to be added to the US Section 232 tariffs. 

These derivative products, for example, include steel fasteners, welded angles, profiles and sections of iron or steel, bridges and bridge sections of iron or steel, gratings, meshes and fences of iron or steel wire, coated or zinc-coated, parts for agricultural, horticultural or forestry machinery; modular steel building blocks and prefabricated buildings.

According to the Trump administration, the growth in imports of some derivative steel products has led to a decrease in demand for goods produced by domestic steel producers. Therefore, they see the need to adjust the tariff to cover additional processed products. The decree states that derivative steel products may be subject to an additional ad valorem duty rate of 25%. The U.S. Secretary of Commerce has 90 days to develop a procedure for including additional steel derivatives in the scope of the duty.

On February 10, US President Donald Trump ordered a 25 percent duty on all imports of steel and aluminum into the country without any exceptions or exemptions. The new rates will come into effect on March 12 this year. In particular, the duties will apply to steel and aluminum imported from Canada, Brazil, Mexico, South Korea and other countries that have been supplying their products to the United States duty-free under exemptions.