Tariff rates applicable to steel and aluminum products imported into the U.S. have been doubled from 25% to 50% effective at 12:01 ET on June 4th, as announced through presidential executive action on June 3rd. The increase applies immediately with no exception for goods in transit.
The order provides an exception for products from the United Kingdom, leaving the current 25% tariff in place but allowing for re-evaluation on July 9th. The order also adds new items to the list of affected products, which were previously exempt from the tariffs. Furthermore, the non-aluminum and non-steel content of an article is now subject to Reciprocal Tariffs.
Updated guidance from U.S. Customs and Border Protection can be found here:
UPDATED GUIDANCE: Import Duties on Aluminum and Derivative Products
Aluminum Products HTS List
UPDATED GUIDANCE: Import Duties on Steel and Derivative Products
Steel Products HTS List
O.T.S. will continue to monitor this fluid situation and provide updates as they become available. Please do not hesitate to reach out to your O.T.S. Sales Representative for more information.