The U.S. Department of Commerce has announced an expansion of the 50% tariff imposed on steel and aluminum imports to include hundreds of additional derivative products, according to Reuters.
In a notice published in the Federal Register, the department explained that the Bureau of Industry and Security added 407 new tariff codes to the U.S. Harmonized Tariff Schedule, covering goods that will now be subject to additional duties based on their steel or aluminum content. The notice also stated that some goods without steel or aluminum components will still face tariff rates imposed on imports from specific countries.
The expanded tariffs are set to take effect on August 18. Earlier on Friday, while speaking to reporters aboard Air Force One en route to Alaska for a meeting with Russian President Vladimir Putin, U.S. President Donald Trump signaled his intention to announce further measures on steel tariffs, as well as new tariffs on semiconductor imports.