Trump Signs Adjustment to Import Tariffs for Steel to Copper

JAKARTA - US President Donald Trump has signed a proclamation regarding adjustments to import tariffs on steel, aluminum, and copper.

"The proclamation adjusts the tariff for agricultural equipment - such as combine harvesters and other tillage equipment, as well as several other types of equipment - from 25 percent to 15 percent," the statement read, quoted by ANTARA from Anadolu, Tuesday, June 2.

In addition, the proclamation also expands the category of industrial equipment, which is currently subject to a 15 percent tariff, by including mobile industrial equipment, such as bulldozers and forklifts, when imported from trade agreement partner countries that are entitled to such treatment.

The order also encourages foreign companies to use more steel and aluminum from the United States by providing the opportunity to obtain a tariff of 10 percent, if the capital equipment used contains at least 85 percent of American steel or aluminum that is melted and cast or melted and cast based on weight.

According to the White House, the tariff changes are temporary and will be in effect until December 31, 2027 to encourage short-term investments that can rebuild the US national industrial base.