It is reported that the Trump administration is considering imposing a 25% tariff rate on finished products made from imported steel and aluminum, aiming to simplify the tariff structure for metal products and help enterprises better cope with President Trump's import tax policies.
The report, citing an informed source, stated that the new tax rate could be announced as early as this week. The report indicated (DJI) that a 25% tariff would apply to derivative products containing steel and aluminum, replacing the current 50% tax rate imposed on the value of steel and aluminum materials in the products. However, goods that are almost entirely made of steel and aluminum would still be subject to the higher 50% tax rate.
White House spokesperson Kush Desai said that the government "has consistently stated that it is implementing a detailed, flexible and multi-pronged strategy to bring key manufacturing back to the United States", and added that "any reports of potential administrative actions that have not been officially announced by the government should be regarded as unverified speculation."
Previously, the Trump administration imposed a wide range of tariffs on steel and aluminum products. Businesses generally reported difficulties in calculating costs. Recently, the government has been working to narrow the scope of the tariffs in an effort to alleviate the pressure on businesses.
This move comes at a time when the Trump administration is facing voter dissatisfaction over economic issues, and widespread concerns have been raised about the pressure on people's living costs. This situation may undermine the Republicans' efforts to retain control of Congress in the mid-term elections in November.
Last year, Trump imposed a 50% tariff on foreign steel and aluminum, citing the need to address China's overcapacity. However, this measure ultimately harmed other major trading partners including Canada, the EU, Mexico and South Korea. Subsequently, so-called derivative products containing these metals were also included in the tax list, making it necessary for enterprises to calculate the proportion of metals in imported goods, significantly increasing the difficulty of compliance.
