Two presidential proclamations were released today for publication in the Federal Register that concern the tariffs being imposed on imports of aluminum and steel into the United States. The proclamations exempt certain countries from the tariffs being imposed pursuant to section 232 of the Trade Expansion Act of 1962 (the provision that allows additional tariffs when national security is affected).
Previously, the president announced that imports of aluminum would be subject to a 10% customs tariff and imports of steel would be subject to a 25% customs tariff. Read TaxNewsFlash-Trade & Customs
Today’s proclamations explain that the United States is continuing discussions with Canada and Mexico as well as discussions with Australia, Argentina, South Korea, Brazil, and the EU on behalf of its member countries as to whether imports of aluminum and steel from these countries or jurisdictions will be subject to the tariffs under section 232 and that the U.S. president has determined to continue these discussions and to exempt aluminum and steel articles imported from these countries from the tariffs “at least at this time.”
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