It's official: Trump proclamation doubles S232 on imported steel, aluminum to 50%

Recall that the US and the UK inked a framework trade deal in May. It was the first such agreement since President Trump announced “reciprocal” tariffs on “Liberation Day” in April.

The proclamation also increases the Section 232 tariff on downstream goods to 50%. But the higher tariff applies only to the steel and aluminum content of those downstream goods. “Non-steel and non-aluminum contents of imported products will be subject to other applicable tariffs,” the fact sheet said.

Downstream steel containing goods could be anything from tools and steel-toed boots to appliance parts. The steel in a hammer, for example, would be tariffed at 50%. The hammer’s wooden handle would face a different tariff rate.

Recall that President Trump at a rally on Friday evening near Pittsburgh said he would double Section 232 tariffs to 50%. And Kevin Hassett, director of the National Economic Council, had said earlier on Tuesday at an American Iron and Steel Institute (AISI) conference in Washington, DC, that there would be “few” exceptions to the higher tariffs.

The higher tariffs have been praised by domestic mills. But they have also been sharply criticized by traditional US allies such as Canada and the European Union.