The U.S. Commerce Department has announced a significant increase in tariffs on steel and aluminum for over 400 products, including wind turbines, railcars, and electric vehicle (EV) parts.
Tariffs Now Cover Appliances, Vehicles, And Heavy Gear
The U.S. Commerce Department revealed on Tuesday that it is raising tariffs on a wide range of products, including wind turbines, mobile cranes, appliances, bulldozers, and other heavy equipment, Reuters reported. The tariffs will also affect railcars, motorcycles, marine engines, furniture, and hundreds of other products.
The new tariffs will cover 407 product categories classified as “derivative” steel and aluminum goods. They will face a 50% duty on the steel and aluminum content, along with the standard country-specific rate applied to the remaining non-steel and non-aluminum portions.
These will also cover imported parts for automotive exhaust systems, electrical steel used in electric vehicles, and components for buses, air conditioners, and household appliances such as …