In a Proclamation posted late yesterday, President Trump announced the end of Section 232 exemptions, the exclusion process, existing exclusions and quota agreements on steel products effective March 12, 2025. A list of covered harmonized tariff codes is scheduled to be posted and identified as Annex I and is pending publication.
With this change, a 25% tariff will also apply to steel derivatives once adequate systems are in place to efficiently collect the tariffs for covered merchandise. The only exception being for those derivatives that are processed in another country from steel articles that were melted and poured in the United States, and a method of reporting will be published to provide evidence of the same. For any derivative steel article classifiable outside of chapter, the additional ad valorem duty shall apply only to the steel content of the derivative steel article.
The Secretary, Commissioner of CBP, Security and other executive department heads have been tasked with making amendments to the HTSUS within 10 days of the effective date.
CBP has also been tasked to review classification of imported steel articles and derivatives to ensure that any misclassification resulting in non-payment is rewarded with monetary penalties that are not subject to mitigation.
These tariffs will not be eligible for duty drawback.
A fact sheet was posted today at Fact Sheet: President Donald J. Trump Restores Section 232 Tariffs – The White House
Aluminum products are also proposed to be increased from 10% to 25% effective March 12, 2025, however no formal publication has been posted at the time of this bulletin.
We will keep you posted of any changes as they occur.