Tariff Talk

What do certain milks and creams, helium, jigsaws, paints, and varnishes all have in common? They now fall under the jurisdiction of Section 232 tariffs on steel and aluminum products. This doesn’t mean your cereal is soaked in steel or that we’ve returned to the days of lead paint—the 50% tariff (25% for the UK) applies to their containers. More tools and cabling now have their aluminum content taxed as well. Full lists of affected items can be found here.

The new tariffs were introduced to trade Friday evening and implemented on 407 additional tariff numbers this morning, August 18, with no in-transit relief. The executive order that introduced new steel and aluminum tariffs, along with derivatives, included language allowing the Secretary of the Department of Commerce to create a 232 inclusion process for adding additional articles. Many of the additions focus on Chapter 73 (steel) and Chapter 74 (aluminum), but they also extend to articles in steel/aluminum containers and expand coverage in Chapter 84 (mechanical appliances), Chapter 85 (electrical machinery and appliances), and Chapter 94 (furniture).

OCEANAIR is committed to keeping its clients current as the climate for tariff changes continues.