February 11, 2025. The U.S. government has announced significant changes to tariffs on steel and aluminum imports, effective March 12, 2025.
Key Updates:
- Tariff Adjustments: A 25% tariff will be applied to all steel and aluminum imports, including those from previously exempt countries such as Canada, Mexico, and others.
- Elimination of Exemptions: All prior country-specific exemptions and alternative agreements have been terminated to close loopholes that allowed tariff evasion.
- Expanded Coverage: Tariffs now extend to key downstream products and enforce strict “melted and poured” standards to ensure metals are fully processed within the originating country.
Implications for Importers:
- Increased Costs: Expect higher costs for steel and aluminum imports due to the reinstated tariffs.
- Supply Chain Adjustments: Review and potentially adjust supply chains to account for the expanded scope of tariffs, including downstream products.
- Compliance Requirements: Ensure adherence to the new “melted and poured” standards to avoid penalties.
Click here to read the entire proclamation.
For detailed guidance and assistance in navigating these changes, please contact your Buckland representative.