WASHINGTON (dpa-AFX) - President Donald Trump has signed a Proclamation reducing import duty to 10% on steel, aluminum, and copper for foreign companies that heavily utilize American metals.
Under the new U.S. trade policy, foreign products qualify for this reduced, preferential tariff rate if they contain at least 85 percent U.S.-melted/poured steel or smelted/cast aluminum and copper by weight.
This preferential 10 percent rate applies to eligible imported capital equipment, machinery, and derivatives.
The Proclamation encourages foreign companies to use more U.S. steel and aluminum 'to more effectively address national security threats, spur investment in American agriculture, housing, and manufacturing, and facilitate U.S. production of related products,' the White House said.
The Proclamation also adjusts the tariffs on agricultural equipment, like combines and harvesters, as well as certain other equipment, from 25 percent to 15 percent.
The Proclamation also expands the existing category of industrial equipment subject to a 15 percent tariff to include mobile industrial equipment, like bulldozers and forklifts, when imported from trade deal countries.
These tariff changes are temporary, lasting until December 31, 2027, to spur short-term manufacturing investments that will rebuild the Nation's industrial base.
While the 10 percent rate acts as an incentive for using U.S. materials, the baseline tariffs on non-compliant metal imports remain high. General imports of semi-finished copper, steel, and aluminum or their derivatives are often subject to tariffs ranging from 25 percent to 50 percent.
In 2025, the United States became the third largest steel producing nation in the world, surging past rival economies, while new steel plants are being built in the country.
More than 4 million tons of new crude steelmaking capacity is expected to become operational in the next two years, including in West Virginia, Arkansas, and South Carolina, with additional investments underway across the country, the White House said in a fact sheet.
New investment in U.S. aluminum and copper smelting is also underway across the country. Earlier this year, Century Aluminum and Emirates Global Aluminum announced a joint venture to build the first new aluminum smelter in the United States in decades, in Oklahoma. Companies such as Highland Copper, Ivanhoe Electric, Rio Tinto, and Wieland are expanding U.S. copper mining, smelting, and fabrication facilities.
'This buildout - and the continued health of these vital American industries - is only possible through the continued implementation and strengthening of the President's Section 232 tariff programs. These tariffs ensure domestic producers and workers can compete on a level playing field with foreign producers', the White House said.
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