On June 1st, US President Donald Trump signed an executive order amending Section 232 national security-related tariffs on certain imported aluminum, steel, and copper products.

This decision aims to boost short-term investments and rebuild the core industrial base of the world's number one economy .

According to a White House statement, the new order lowers tariffs from 25% to 15% on certain steel and aluminum products. The categories eligible for the tariff reduction include agricultural equipment such as combine harvesters and household heating, ventilation, and air conditioning equipment.

The US government also expanded the list of industrial equipment subject to the 15% tariff to include mobile industrial machinery such as bulldozers and forklifts. However, this tariff only applies to goods imported from countries that have appropriate trade agreements with the US.

Conversely, the decree adds two new product categories that will be subject to tariffs of up to 25%, including steel stands and aluminum lithographic printing plates.

In an effort to ease previously stringent regulations, the White House has lowered the domestic content requirement from 95% to 85% for an imported product to be recognized as being made entirely from U.S. aluminum, steel, or copper, replacing the old regulation issued on April 2nd.

At the same time, the U.S. encourages foreign companies to use domestic materials by applying a preferential tariff rate of 10%. To benefit from this rate, the production equipment and materials of these businesses must contain at least 85% by weight of steel or aluminum that has been melted, cast, or refined in the U.S.

These adjustments will officially take effect for goods imported into or withdrawn from bonded warehouses from 00:01 AM on June 8th (US time) and are expected to last until December 31st, 2027.

Previously, during his first term in 2018, Trump invoked Section 232 of the Trade Expansion Act of 1962 to impose tariffs on imported steel and aluminum. Upon returning to the White House in 2025, he continued to adjust the previous administration's tariff policies on these two items, while also applying additional tariffs on copper.

Source: Vietnam.vn