1 week ago
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NEW YORK (AP) — President Donald Trump on Monday adjusted tariffs on some steel, aluminum and copper imports, lowering some tariffs on farming equipment and extending the lower rate to other equipment.
In an executive order, Trump lowered tariffs on agricultural equipment, including combines and harvesters, and heating, ventilation, and air conditioning (HVAC) systems, to 15% from 25%.
He expanded the existing category of industrial equipment that is subject to a 15% tariff to include mobile industrial equipment like bulldozers and forklifts — when they’re imported from countries that have a trade deal with the U.S.
The order says countries that use at least 85% melted and poured or smelted and cast steel or aluminum by weight could qualify for a lower 10% duty rate, in an effort to encourage companies in other countries to use U.S. metals.
The changes go into effect Monday. They are temporary and s...
