Trump makes changes to steel, aluminum and copper tariffs

NEW YORK — President Donald Trump on Monday adjusted tariffs on some steel, aluminum and copper imports, lowering some tariffs on farming equipment and extending the lower rate to other equipment. In an executive order, Trump lowered tariffs on agricultural equipment, including combines and harvesters, and heating, ventilation, and air conditioning (HVAC) systems, to 15 percent from 25 percent. He expanded the existing category of industrial equipment that is subject to a 15 percent tariff to include mobile industrial equipment like bulldozers and forklifts — when they're imported from countries that have a trade deal with the U.S. The order says countries that use at least 85 percent melted and poured or smelted and cast steel or aluminum by weight could qualify for a lower 10 percent duty rate, in an effort to encourage companies in other countries to use U.S. metals. The changes go into effect Monday. They are temporary and set to expire at the end of 2027. “In my judgment, this temporary modification appropriately accounts for these products’ roles in productive economic activ

Original source: Korea Times