Note: Single-source report; awaiting corroboration.
President Donald J. Trump signed a Proclamation adjusting tariffs on steel, aluminum, and copper imports to address national security concerns and encourage investment in U.S. agriculture, housing, and manufacturing. Tariffs on agricultural equipment such as combines and harvesters were lowered from 25% to 15%. Additionally, the 15% tariff on industrial equipment was expanded to include mobile industrial equipment like bulldozers and forklifts imported from trade deal countries with applicable duty treatments. The Proclamation also introduces a 10% duty rate for foreign firms whose capital equipment contains at least 85% U.S.-melted and cast steel or aluminum by weight. These tariff adjustments are temporary, effective until December 31, 2027, aimed at prompting near-term investments to rebuild the nation's industrial base.
The Proclamation states that tariffs on imported steel, aluminum, and copper have helped protect U.S. national security and supported key industries and communities from underpriced foreign imports. By 2025, the United States reportedly became the third largest steel producer worldwide, surpassing major competitors owing to Section 232 tariffs. New steel plants are under construction in states including West Virginia, Arkansas, and South Carolina, contributing to a projected increase of more than 4 million tons in crude steelmaking capacity over the next two years. Additional investments have been announced in American aluminum and copper smelting, including a joint venture to establish the first new aluminum smelter in decades in Oklahoma. Expansions in U.S. copper mining, smelting, and fabrication are being undertaken by firms such as Highland Copper, Ivanhoe Electric, Rio Tinto, and Wieland. The document asserts that maintaining and reinforcing the Section 232 tariffs is crucial to ensuring domestic producers and workers can compete equitably with foreign producers.