By now, you've probably heard about President Trump's Presidential Proclamation regarding the subject of additional tariffs for steel and aluminum articles imported to the United States.
In 2018, under Section 232 and under the threat of National Security, the US imposed duties of 10% and 25% on aluminum and steel products respectfully.
Effective on February 8th, 2020, an additional 10% duty will be applied to aluminum products and an additional 25% duty on steel when importing these items into the United States. These new and additional duties were assessed due to the yearly increase of these products entering the US market.
While these numbers can seem jarring, do keep in mind that there are country exceptions for which the duties do not apply.
Country exceptions for aluminum:
Country exceptions for steel:
- South Korea
If you have been supplying or importing these products and have been previously subjected to Section 232 tariffs then be prepared to pay the new additional tariffs for your products.
The official Presidential Proclamation can be found here.