Tariffs on steel and aluminum imports to be imposed on March 12, 2025

Beginning March 12, 2025, the U.S. government will impose a 25% tariff on all imported steel and aluminum products. This move is intended to protect the U.S. steel and aluminum industries from unfair trade practices and global overcapacity.

Here are some key details about this tariff change:

Import tariffs on steel and aluminum will be set at 25%.

This will apply not only to steel and aluminum imports from countries that have been subject to the Section 232 tariff since 2018, but also to countries that were previously exempted, including Argentina, Australia, Brazil, Canada, the European Union, Japan, Mexico, South Korea, Ukraine, and the United Kingdom.
The tariff on Turkish steel products will remain at 50%.
Aluminum imports from Russia will be subject to a 200% tariff.

In addition, no new product exemptions will be granted or renewed due to insufficient U.S. production starting at 23:59 EST on February 10, 2025.
Current exemptions will remain in effect until their expiration date or until the number of exempt products is exhausted, whichever occurs first.
All General Approved Tariff Exclusions (GAEs) will end on March 12, 2025.

For goods imported into a Free Trade Zone (FTZ) to be affected by the new tariffs, they must be designated as "privileged foreign goods" within the FTZ.
Any attempt to misclassify steel or aluminum imports to evade tariffs will be subject to the maximum penalty provided by law, without regard to mitigating factors.
Under the new scheme, there will be no refunds on steel and aluminum import duties.
We are monitoring this situation closely to ensure that disruption to the supply chain is minimized. We will keep you informed of any changes that may affect our services. We recommend that all customers review their supply chains, assess potential cost impacts, and ensure compliance with the new regulations.

If you have any questions about how the above changes may affect your import business, please contact our compliance team for further assistance