At about 3:30pm EST on March 8th, 2018, U.S. President Donald Trump signed the Section 232 proclamations on steel and aluminum imports. Tariffs of 25 per cent on steel imported to the U.S. and 10 per cent on aluminum will take effect in 15 days. Canada and Mexico will not initially be subject to the duties in light of the North American Free Trade Agreement negotiations. President Trump has also indicated that other countries could eventually be exempt from the new tariffs. Earlier today, he tweeted that the U.S. would show “great flexibility and cooperation toward those that are real friends and treat us fairly on both trade and the military”.
Tereposky & DeRose advises and represents private sector clients — including industry associations, large corporations, and small and medium-sized businesses — as well as government entities on the full range of issues arising in cross-border trade. Should you have any questions regarding this matter, we are at your disposal.