The decree states that US steel and aluminum imports are at levels and under conditions that threaten the country's national security.
Recalling that a 25 percent tariff was previously imposed on steel and aluminum, the decree argues that while this rate brought some improvements, it did not ensure that the sector could utilize its production capacities at a sustainable level.
For this reason, the decree states that the customs duty for steel and aluminum products and their derivatives has been increased from 25 percent to 50 percent, and notes that the tariffs will come into effect on June 4 at 00:01 local time.
The decree also states that an exemption has been granted to the United Kingdom under the trade agreement signed last month, meaning customs duties on steel and aluminum will remain at the 25 percent level, and notes that this situation will be reviewed after July 9.
News Source: AA
