The White House announced Monday that U.S. President Donald Trump has issued a proclamation modifying import tariffs on certain copper, aluminum and iron products.
Under the new directive, tariff rates on specific agricultural machinery will decrease from 25% to 15%. Additionally, mobile industrial equipment including bulldozers and forklifts will face a 15% tariff rate “when imported from trade deal countries that are entitled to such treatment,” according to the White House statement.
The proclamation also establishes a pathway for international companies to receive a 10% tariff rate provided “their capital equipment include at least 85% U.S. melted and poured or smelted and cast steel or aluminum by weight.”
These tariff modifications will remain in effect through December 31, 2027 “to spur near–term investments that will rebuild the Nation’s industrial base,” the White House stated.
