U.S. announces expanding 50% tariff on steel and aluminum imports

On August 15, local time, the US government announced the expansion of the scope of imposing 50% tariffs on steel and aluminum imports, and included hundreds of derivative products on the tariff list. In a Federal Register announcement released by the U.S. Department of Commerce stated that the Bureau of Industry and Security has added 407 product codes to the U.S. Coordinated Tariff Form, which will be subject to additional tariffs for the steel and aluminum components contained. The announcement stated that the African steel and aluminum portion of these products will be subject to the tariff rates imposed by President Trump on goods in specific countries. The expanded tariff list will officially take effect on August 18. On June 3 local time, the White House issued a statement saying that US President Trump announced that tariffs on imported steel, aluminum and its derivatives would be raised from 25% to 50%. The tariff policy will take effect at 00:01 am Eastern Time on June 4, 2025.