This afternoon, Customs and Border Protection released CSMS #18-000372, updating the trade community on the status of duty rates and quota regulations on imports of steel mill and aluminum articles. President Trump signed a proclamation on March 31, 2018, that updates his previous Proclamations on Adjusting Imports of Steel and Aluminum into the United States.
The President has put into place regulations regarding the importation of steel and aluminum products originating from Argentina, Brazil, and Australia. Import tariffs will also be going into place on steel and aluminum products from Mexico, Canada, and the European Union; previously the E.U., Mexico, and Canada has been exempted from the 25% tariff on steel and 10% tariff on aluminum.
The changes in tariffs and quotas will go into effect on June 1st, 2018.
If you have any questions on how the new duty rates will affect your import shipments, please reach out to your contact at HG Enterprises.