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Proclamations for global tariffs of 25% on steel and 10% on aluminum have been signed and became effective on March 23. This will affect all related imports except those from Mexico and Canada, EU, Argentina, Australia, Brazil and South Korea. The announced exclusion for these entities are set to expire on May 1. The future of the Mexico and Canada exclusion is tied to current negotiations of the North American Free Trade Agreement (NAFTA). President Trump stated that the U.S. is open to the modification or elimination of these tariffs from certain nations who can guarantee the U.S. will not be subjected to unfair trade practices, including dumping. Many organizations including the Northwest Seaport Alliance (NWSA) have expressed concern by how this may result in retaliatory tariffs on U.S. exports. The European Commission has also been openly concerned with how this change will affect the European Union and the jobs that could be affected.

Affected tariff numbers are 7206.10 through 7216.50, 7216.99 through 7301.10, 7302.10, 7302.40 through 7302.90, and 7304.10 through 7306.90 for steel products. The affected tariff numbers for aluminum are (a) unwrought aluminum (HTS 7601); (b) aluminum bars, rods, and profiles (HTS 7604); (c) aluminum wire (HTS 7605); (d) aluminum plate, sheet, strip, and foil (flat rolled products) (HTS 7606 and 7607); (e) aluminum tubes and pipes and tube and pipe fitting (HTS 7608 and 7609); and (f) aluminum castings and forgings (HTS 7616.99.51.60 and 7616.99.51.70).

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NEWS FLASH: U.S. tariffs on steel, aluminum effective March 23

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