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Section 232 of the Trade Expansion Act of 1962 allows for such reviews. Although the President intended for a swift result, an imbedded process for public comment and consultation meant that the final report took longer. On March 8, President Trump announced that the result of the Section 232 investigation will lead to an imposition of 25 percent tariffs on steel imports and 10 percent on aluminum imports. The tariffs were put in place on March 23. Also, the U.S. Department of Commerce published, on March 18, guidelines for requests for exclusion from the tariffs for steel and aluminum.
“if the steel and aluminum articles are determined not to be produced in the United States in a sufficient and reasonably available amount or of a satisfactory quality or based upon specific national security considerations.”
…also announced was a process for submitting objections to another party’s exclusion request.
Why it’s important: Scrap recyclers would be wise to consider the impacts, both positive and negative, that the steel and aluminum 232 decisions may pose to their businesses, and act as they see fit.
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