USA imposes 50% tariffs on steel, aluminum and copper; exempts derivatives under 15% metal content
Importers' trade‑compliance teams face new tariff rules tied to customer sale prices
Change
The USA maintained a 50% Section 232 tariff on imported steel, aluminum and copper applied to prices paid by US customers, exempted derivative products with under 15% metal content by weight, set a 25% tariff on derivatives above 15% on full import value, cut tariffs to 15% for certain metal‑intensive industrial and electrical grid equipment through 2027, and set a 10% rate for goods made abroad entirely with US metals.
Why it matters
Tariff liability must now be calculated on the sales price paid by US customers rather than on declared metal-content values, removing the basis importers previously used to lower duties. Derivative products below the 15% metal‑content threshold are duty‑exempt, while derivatives above 15% will be assessed a flat tariff on the full import value; metal‑intensive industrial and electrical grid equipment qualify for a reduced 15% rate through 2027.
Implications
- — Importers' trade‑compliance teams must immediately change valuation and duty-calculation procedures to apply tariffs to the customer sale price — failure risks underpaid duties, customs reassessments and regulatory penalties.
- — Customs brokers and freight forwarders must require and file customer sale‑price information on import declarations now — import filings lacking the required pricing data will produce incorrect duty assessments and invite holds or enforcement actions.
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Source
View on Economic Times