President Trump has expanded its Section 232 tariffs on finished goods made of aluminum and steel, effective February 8, 2020. The expansion covers certain imported nails, staples, electrical wires and some parts that go into automobiles and tractors, as well as other goods. The tariffs will apply to derivatives of aluminum products outlined in Annex I here, and would be subject to an additional 10% duty. Derivatives of steel products would be subject to a 25% duty, outlined in Annex II here.

The duties apply to imports of aluminum goods from all countries except Argentine, Australia, Canada and Mexico. The duties apply to imports of all steel goods from all countries except Argentina, Australia, Brazil, Canada, Mexico and South Korea. See the entire proclamation here.

Source: Bloomberg