Trump signs proclamation amending tariffs on steel, aluminum and copper imports
LOS ANGELES, June 1 (Reuters) – U.S. President Donald Trump signed a memorandum on Monday changing tariffs on some copper, aluminum and iron imports, the White House said.
• The declaration reduces tariffs on some agricultural equipment from 25% to 15%
• In a statement, the White House stated that mobile industrial equipment such as bulldozers and forklifts are subject to a 15% tariff “when imported from countries covered by a trade agreement.”
Advertising
Advertising
• The order also allows foreign companies to qualify for a 10% tariff if their “capital equipment contains at least 85% by weight steel or aluminum smelted and cast or smelted and cast in the United States.”
• The changes will last through Dec. 31, 2027, “to encourage short-term investments that will rebuild the Nation’s industrial base,” the White House said.
(Reporting by Christian Martinez; Editing by Caitlin Webber)
