Updated tariffs on Steel and Aluminum Products
The tariff rate on steel and aluminum imports has been increased from 25% to 50% for all countries , effective June 4, 2025, 12:01 a.m. EDT.
UK Imports: Steel and Aluminum imports from the United Kingdom will remain at a 25% tariff rate until July 9, 2025, pending the status of the U.S.-UK Economic Prosperity Deal.
Changes in How Tariffs Are Calculated
In addition to the rate increase, there are critical changes to how tariffs are now applied to steel and aluminum products.
For products classified under Chapters 73 and 76, the steel and aluminum tariffs now apply only to the value of the steel or aluminum content, rather than the value of the entire product as was previously the case.
Previously, the full value of these products was exempt from reciprocal tariffs. Under the new rules, only the steel and aluminum content remains exempt, while the non-Steel and Aluminum content will now be subject to reciprocal tariffs.
CBP Extends In-Transit Exception Deadline to June 16, 2025
The US Customs and Border Protection (CBP) has updated its guidance on in-transit exceptions for IEEPA reciprocal tariffs. Previously, goods had to enter before May 27, 2025, to qualify for the in-transit exception. Now, goods can qualify if entry is made before June 16, 2025.
USTR Extends China Section 301 Tariff Exclusions Until August 31, 2025
The US Trade Representative has extended certain exclusions from China Section 301 tariffs, which were set to expire on May 31, 2025. These exclusions have now been extended through August 31, 2025. This decision affects the Section 301 investigation into China's acts, policies, and practices related to technology transfer, intellectual property, and innovation.
Powered by nextbracket.io
