U.S. Expands Tariffs to Include More Derivative Products
The Trump administration has extended 50% tariffs on steel and aluminum imports, adding 407 derivative products. The new tariffs will apply to non-steel and non-aluminum content from specific countries, effective August 18. President Trump hinted at further announcements on steel tariffs and semiconductor imports.
The Trump administration significantly expanded its 50% tariffs on steel and aluminum imports by incorporating hundreds of derivative products. The list of goods subject to tariffs was updated in a Federal Register notice, revealing that 407 additional product codes have been added to the Harmonized Tariff Schedule of the United States.
The Commerce Department stated that products with non-steel and non-aluminum content would also be taxed, under tariffs imposed on certain countries of origin. The newly expanded tariffs are scheduled to take effect on August 18, adding a new dimension to the U.S. trade landscape.
During comments made aboard Air Force One, President Donald Trump indicated potential further announcements concerning tariffs on steel and semiconductor imports. The administration's latest move underscores its ongoing commitment to revising trade terms. (Reporting By Dan Burns; Editing by Leslie Adler)
(With inputs from agencies.)
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