Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeCommoditiesTrump shakes up tariff regime for steel, aluminum and copperThe president has reduced the charge on some products but also widened the net to include new ones You can save this article by registering for free here. Or sign-in if you have an account.United States President Donald Trump is reducing tariffs on certain products that use steel, aluminum and copper to provide economic relief for sectors that use them. Photo by Chip Somodevilla/Getty ImagesUnited States President Donald Trump says he’s relaxing tariffs on certain products that use steel, aluminum and copper, such as agricultural machinery and HVAC equipment, to 15 per cent from 25 to provide economic relief for sectors that use these products.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorHis administration also said it would reduce the U.S. sourcing threshold so that some foreign products may qualify for a 10 per cent tariff rate — down from 15 per cent — if they contain 85 per cent U.S. metals — down from 95 per cent.Trump announced the changes, which are effective June 8, in a proclamation on Monday, saying the products play an important role in the U.S. economy.“Among other things, the Secretary (of Commerce) has informed me that recent circumstances have affected and are affecting domestic industries that use agricultural equipment, industrial equipment and machinery, and other related products,” Trump said.The order will modify Section 232 tariffs that invoked national security concerns to raise tariffs on aluminum, steel and copper products.Industrial mobile equipment, including forklifts and bulldozers, will also be eligible for a 15 per cent tariff. But the tariffs will only drop if the products are imported “from trade deal countries that are entitled to such treatment,” which some analysts believe will include countries such as Canada and Mexico that have trade agreements with the U.S.Canada has many companies that produce some of the covered products, such as tractors, harvesting equipment and HVAC equipment. Some, but not all of these products, were previously carved out from tariffs under different exemptions.The Trump administration has until now repeatedly raised tariffs on the metals and extended the range of products subject to tariffs. But his latest order also expanded the tariff net, adding aluminum lithographic plates and steel racks to the list of items that face a 25 per cent tariff rate.Canadian steel and aluminum producers have suffered since the 50 per cent tariffs on their products were enacted, with Thursday marking their one-year anniversary.“That knocked us out of the market,” said Butch Mandel, chief executive of Welded Tube of Canada Corp., a tubing company based in Concord, Ont. “You just couldn’t compete.”Mandel said the tariffs are creating new opportunities for U.S. producers of steel and downstream steel products in their home market and that his competitors are “giddy” about their sales prospects.However, he said the situation has improved in recent months, and his company’s sales to the U.S. have been growing again, although not enough to fully offset the impact of the tariffs.The war in the Middle East may also be contributing to supply chain snarls by cutting off steel supplies into the U.S., he said.The overall impact is that steel prices are rising in the U.S., but Mandel said customers are willing to pay more if they know a product can be produced on time.“We haven’t recaptured most of what we lost,” he said. “But we are able to get products into the U.S. market even with the 50 per cent tariff.” Get the latest from Gabriel Friedman straight to your inbox Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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