On May 31, 2018, the White House issued two proclamations to follow through on Section 232 duties on steel and aluminum imports from the European Union (EU), Canada, and Mexico. The proclamations add 25 percent duties on steel and 10 percent on aluminum. Previously, a 30-day extension—ending June 1st—exempted these partners.
The steel duties impact all countries of origin with the exception of Argentina, Australia, Brazil, and South Korea. The aluminum duties affect all countries of origin except Argentina and Australia. A list of commodities and harmonized tariff codes can be found in a message published by US Customs and Border Protection yesterday.
In retaliation, Canada and Mexico announced plans to impose tariffs on US imports. The Canadian government announced the scope of these countermeasures in a release yesterday, which go into effect July 1st. The Mexican Economy Ministry hit back with “equivalent” measures targeting pork legs, apples, grapes, steel, and aluminum products from specific congressional districts.
These tariffs will likely impact the ongoing North American Free Trade Agreement (NAFTA) negotiations. For any questions or comments, please call Deringer’s Compliance Department at (518) 298-8281 or email firstname.lastname@example.org.