US President Donald Trump signed a proclamation Monday adjusting tariffs on steel, aluminum and copper imports, the White House said in a statement.
“The Proclamation adjusts the tariffs on agricultural equipment, like combines and harvesters, as well as certain other equipment, from 25% to 15%,” the statement said.
It also “expands the existing category of industrial equipment subject to a 15% 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 aluminum by allowing them to qualify for a 10% duty rate if their capital equipment includes at least 85% US melted and poured or smelted and cast steel or aluminum 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.
