White House announcement: Trump signs new policy on supporting tariffs for steel, aluminum, and copper; tariffs on agricultural machinery reduced to 15%

The White House stated that U.S. President Trump signed a proclamation on June 1 (Monday), adjusting tariffs on imported steel, aluminum, and copper products. The specific adjustments are as follows:

1)Tariff Rate Adjustments: Tariffs on certain agricultural equipment (such as combine harvesters) are reduced from 25% to 15%; and tariffs on certain mobile industrial equipment (such as bulldozers, forklifts) are set at 15%, though this preference applies only to imported products from countries that have a trade agreement with the United States.

2)Preferences for Using U.S. Metals: The new rules allow eligible foreign enterprises importing capital equipment for their own use to apply for a preferential tariff rate of 10%. The policy sets clear access thresholds, requiring that at least 85% of the raw materials by weight in the equipment must be steel or aluminum melted, cast, and rolled in the United States.

3)Policy Duration and Objectives: The aforementioned tariff adjustments are temporary measures, valid until December 31, 2027.