Companies focused on expanding domestic aluminum smelting will be allowed to import primary aluminum at a reduced tariff rate.
President Donald Trump issued a proclamation last month that adjusted the tariff on aluminum imports under Section 232 of the Trade Expansion Act. The president has previously used tariffs on aluminum to strengthen the domestic supply chain for national security, as aluminum is an essential material in various U.S. military systems.
The president’s proclamation “authorizes and directs the Secretary of Commerce to establish an incentive program for companies that will invest in building, expanding, or refurbishing aluminum smelters in the United States.”
If approved, these companies will be able to import primary aluminum at 50 percent of the Section 232 tariff rate.
The Commerce Department will monitor ongoing projects and is authorized to withdraw the tariff benefits if it finds that companies fail to adhere to their commitments.
As the Lord Leads, Pray with Us…
- For President Trump as he works to protect national security and ensure ongoing production of essential materials, including aluminum.
- For Secretary Lutnick and officials in the Department of Commerce as they oversee the implementation of reduced tariffs for committed companies.
Sources: The White House, GHY International
