Following the Commerce Secretary’s recommendation, tariffs on certain aluminum and steel products were reduced from 25% to 15%.
President Donald Trump issued a proclamation this week lowering the tariffs on certain aluminum and steel derivative products from 25 percent to 15 percent. These products include certain agricultural equipment, as well as heating, air conditioning, and ventilation systems.
The adjustment followed a recommendation from Commerce Secretary Howard Lutnick, who cited “recent circumstances” that have or are affecting U.S. industries that use the equipment subject to the tariffs.
Certain companies from foreign countries may qualify for a 10 percent tariff if their products are composed of aluminum or steel that was melted and poured in the United States. This includes companies from Argentina, Ecuador, El Salvador, Guatemala, Japan, Liechtenstein, South Korea, Switzerland, Taiwan, the United Kingdom, and the European Union.
The proclamation stated that the tariffs will remain in effect until December 2027.
As the Lord Leads, Pray with Us…
- For President Trump as he monitors tariffs, as well as U.S. imports and exports.
- For Secretary Lutnick as he advises the president on matters of commerce and the economy.
- For U.S. trade officials as they engage foreign officials regarding trade agreements.
Sources: The Hill, The White House
