Wall Street closes at a record for the first time since end of January
Investing.com -- President Donald Trump signed a proclamation on Thursday to strengthen tariffs on imported steel, aluminum, and copper to address national security concerns.
The proclamation establishes new rules for calculating Section 232 metals tariffs based on the full value of imported products. Articles made entirely or almost entirely of aluminum, steel, or copper will face a flat 50% tariff on their full value, including products like steel coils and aluminum sheet.
Derivative articles substantially made of these metals will be subject to a 25% tariff on their full value. Metal-intensive industrial equipment and electrical grid equipment will pay 15% through 2027 to support industrial expansion across the country.
Products manufactured abroad using entirely American steel, aluminum, and copper will face lower tariffs of 10%. Items containing 15% or less of these metals will no longer be subject to Section 232 metals tariffs.
In 2025, the United States became the third largest steel producing nation globally, surpassing rival economies due to Trump’s Section 232 tariffs program. New steel plants are being constructed for the first time in a generation, with facilities opening in West Virginia, Arkansas, and South Carolina.
Over 4 million tons of new crude steelmaking capacity is expected to become operational in the next two years. Century Aluminum and Emirates Global Aluminum announced a joint venture earlier this year to build the first new aluminum smelter in the United States in decades in Oklahoma.
Companies including Highland Copper, Ivanhoe Electric, Rio Tinto, and Wieland are expanding copper mining, smelting, and fabrication facilities in the United States.
Trump first implemented Section 232 tariffs on steel and aluminum during his first term. In February 2025, he issued a proclamation eliminating product-specific exceptions and country-specific exemptions. In June 2025, he increased steel and aluminum tariff rates to 50%, and in July 2025, he added copper to the program at the same rate.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.