Trade Update: Steel, Aluminum Tariffs Go Into Effect With Some Exemptions

More Countries Exempt From Steel, Aluminum Tariffs

As the tariffs on steel and aluminum go into effect Friday, more countries have been exempt -- and more tariffs are on the horizon.

With the tariffs on steel and aluminum in effect, more countries have been exempted as more tariffs on Chinese products are on the horizon.

The White House released proclamations Thursday night, saying tariffs on steel and aluminum from Argentina, Australia, Brazil, the European Union and South Korea have been put on hold until June 1, joining Canada and Mexico, which have been exempted, USA Today reported.

Thursday, President Donald Trump has ordered more tariffs, specifically on Chinese goods. And China has struck back.

On Thursday, Trump took the first steps in imposing tariffs on Chinese goods that could amount to $60 billion dollars. Politico reported that Trump directed his administration to take action that will likely result in tariffs on a proposed list of 1,300 products. The tariffs come as punishment for Beijing’s intellectual property practices with many set to focus on technology China is accused of taking from U.S. companies.

Within 15 days, a proposed list of products to be hit with tariff increases will be announced, the Washington Post reported. After a public comment period, the final list, will be made public. The White House said the tariffs on good should have little impact on consumers.

The Auto Care Association issued a statement in response to the proposed tariffs that said while it supported the White House “addressing China’s unfair trade policies and practices,” it urged the Trump administration to find better solutions to address China’s “protectionist policies.”

“As a manufacturing hub and an important source of imports, China is a critical player in our industry’s supply chain,” said Bill Hanvey, president and CEO of the Auto Care Association. “Imposing import restrictions and trade barriers will have unintended negative consequences on the U.S. economy and our industry’s global supply chains, likely causing discrimination against U.S. products and pricing out U.S. exporters in the global marketplace.”

In response to Trump’s actions, China’s Ministry of Commerce issued a list of U.S. goods it imports that it plans to slap with tariffs, which included fruit, pork, wine, seamless steel pipes, modified ethanol and American ginseng. The list totals about $3 billion in America goods that China imports. The New York Times reported that China is planning a 15% tariff on these items in response to Trump’s 25 percent tariff on steel and 10 percent tariff on aluminum. Chinese businesses have until March 31 to submit their views on the proposed tariffs, meaning they would take effect only after that date, according to The Times.

China’s commerce ministry said in a statement that more tariffs on American goods may be on the horizon.

 

You May Also Like

Bridgestone Americas Releases 2022 DE&I Annual Report

The 2022 DE&I Annual Report outlines improvements Bridgestone has made in its three DE&I focus areas.

Bridgestone announced the release of its 2022 DE&I annual report. The report includes a detailed scorecard on its diversity representation across the US and Latin America along with a breakdown of its DE&I commitments, strategy and efforts in the last year.

“The release of our second DE&I Annual Report further solidifies our focus on empowering our teammates and the communities where we live, move, work and play,” said Ebonee Davis Ifeobu, vice president of diversity, equity and inclusion at Bridgestone Americas. “Last year, we made a commitment to build upon the DE&I framework already in place and doubled down on our efforts to listen, learn and evolve. While this is an ongoing and intentional journey, I’m proud of the strides we’ve made thus far.”

CEAT Receives Lighthouse Certification from World Economic Forum

The certification is given to manufacturers that use Industry 4.0 technologies.

CEAT-receives-Lighthouse-certification-
Nokian Tyres Holds Innovation Challenge Finals

Sustainability at the top of mind for Nokian Tyres during its innovation challenge.

Nokian-Tyres-1400
Apollo Tyres Receives ISO Certification for Sustainability

Apollo Tyres underwent a three-stage assessment for the certification.

apollo-chennai-india-plant-sustainability
Discount Tire Announces ‘Defending Daytona’

The series will highlight Austin Cindric, driver of the No. 2 Discount Tire Ford Mustang, as he prepares to defend his title at the Daytona 500.

Discount Tire Defending Daytona

Other Posts

Hunter’s BL Series Bench Lathes Now Connects with HunterNet 2

With the new connectivity, shop owners and managers will be able to view before and after-cut results for rotors and drums online.

brake-bl-bench-lathe-hunter-engineering
GRI Receives US DOT Certification for Safety

GRI tires will now have a DOT code embossed on their sidewalls.

DOT-CERTIFICATION-GRI-Tires
BKT Launches New Website

Each product page now contains more information, including videos and links to case studies.

BKT website
Pirelli Revs Up for 2023 Motorsport Season in the US

The Italian tiremaker is set to participate in 10 North American motorsport championships.

Pirelli-Motorsport