Additional Tariffs on Steel & Aluminum Imports (Section 232 Tariffs)
On March 8, 2018, President Trump announced the imposition of special Section 232 duties on certain steel and aluminum products. Following this announcement, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) issued an interim rule in the Federal Register allowing organizations to submit requests to exclude their products from Section 232 tariffs on steel and aluminum (i.e., if their steel and aluminum products are unique and/or not in competition with U.S.-made steel and aluminum, etc.).
Depending on your product and country of origin, the additional duties can range from 10 to 50%. The 232 tariffs are in addition to other general or special duties that may apply, including antidumping and countervailing duties.
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Section 232 Tariffs Extended to Derivative Steel & Aluminum Goods
In response to the Section 232 tariffs of 25 percent on steel and 10 percent on aluminum, there has been a decline in the imports of steel & aluminum goods. However, in place of those goods, there has been a surge in imports of certain derivatives of these goods. The Department of Commerce believes that this increase is due in part to an effort to circumvent the Section 232 tariffs. Therefore, the White House is expanding the Section 232 tariffs to derivative products that have seen an increase in imports.
These derivative products include:
1) steel nails, tacks, drawing pins, corrugated nails, and staples
2) aluminum stranded wire, cables, plaited bands, and the like (including slings and similar derivative articles)
3) bumper and body stampings of aluminum and steel for motor vehicles and tractors
The expanded tariffs will go into effect for affected goods entered or withdrawn from warehouse for consumption on or after 12:01 a.m. EST on February 8, 2020.
Derivative aluminum articles from Argentina, Australia, Canada, and Mexico
Derivative steel articles from Argentina, Australia, Brazil, Canada, Mexico, and South Korea
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