On February 10 and 11, 2025, President Donald J. Trump issued two proclamations directing the Secretary of Commerce to broadly adjust duty rates on imported steel, aluminum, and certain downstream goods derived from those materials. The proclamations (i) revoke country-specific exemptions from steel import tariffs for the European Union and eight additional countries, returning to the 25% tariff rate imposed during the first Trump Administration; (ii) increase the tariff on aluminum imports from 10% to 25% while also eliminating associated alternative agreements and exclusions; and (iii) apply the tariff rates to additional downstream or “derivative” goods made of steel and aluminum. The measures are scheduled to take effect on March 12, 2025.
View other S&C insights relating to President Trump’s recent executive orders.