All articles tagged with #section 232
The US has expanded its Section 232 tariffs on steel and aluminum, now including hundreds of products such as household appliances, car parts, and trailers, with a 50% levy effective immediately, impacting imports worth over $320 billion and adding inflationary pressures.
The US has announced near 100% tariffs on chips and semiconductors, with exemptions for companies committed to US manufacturing, notably benefiting Apple. The impact on the tech industry remains uncertain due to vague definitions and ongoing negotiations, with potential repercussions for global supply chains and costs.
President Donald Trump signed a proclamation imposing 50% tariffs on certain copper imports to protect US national security and support domestic copper industry, including measures to boost domestic refining and scrap sales, following a Section 232 investigation highlighting copper's importance to defense and the trade deficit.
President Trump is implementing a nuanced trade strategy involving two overlapping sets of tariffs: IEEPA tariffs on a country-by-country basis and Section 232 tariffs on specific products like steel, aluminum, and pharmaceuticals, with the aim of bolstering national security and domestic industries, though these measures face legal and diplomatic challenges.
A federal appeals court has allowed President Trump's tariffs to remain in effect while legal challenges are expedited, with a decision expected this summer. The case concerns whether Trump exceeded his authority in imposing broad tariffs, but the ruling does not affect sector-specific tariffs under different laws. The ongoing legal and policy battles create uncertainty for businesses and consumers regarding future costs and trade policies.
Despite legal setbacks, the Trump administration is likely to continue using various trade laws to impose or threaten tariffs, including Section 122, Section 232, and Section 301, to maintain leverage in trade negotiations and address trade deficits and national security concerns.