Trump signs proclamation amending tariffs on steel, aluminum and copper imports

President Donald Trump on Monday signed a proclamation amending his Section 232 national security tariffs on some aluminum, steel and copper imports, the White House said.

• The proclamation lowers tariffs on some steel and aluminum derivative products, including certain types of agricultural machinery and residential heating, air conditioning and ventilation equipment to 15% from 25% previously.

• It makes mobile industrial equipment, such as bulldozers and forklifts, subject to a 15% tariff "when imported from trade deal countries that are entitled to such treatment," the White House said in a statement.

• The order also allows foreign companies to qualify for a 10% tariff if "their capital equipment includes at least 85% U.S. melted and poured or smelted and cast steel or aluminum by weight."

• The order adds two new categories of steel and aluminum derivative import products that will be subject to 25% duties: steel racks and aluminum lithographic plates.

• The adjustments will become effective for goods imported or withdrawn from bonded warehouses after 12:01 a.m. EST (0401 GMT) on June 8.

• The changes will remain in place until December 31, 2027 "to spur near–term investments that will rebuild the Nation’s industrial base," the White House said.