Trump Administration's Steel and Aluminum Tariff Reshuffle

The Trump administration is planning to revamp its steel and aluminum tariffs, maintaining a 50% tariff on commodity-grade products while imposing a 25% tariff on finished goods made with imported materials. A presidential proclamation could be issued shortly, according to The Wall Street Journal.

The Trump administration is poised to make significant changes to its current tariff regime for steel and aluminum, according to The Wall Street Journal. Sources indicate that the administration plans to retain a 50% tariff on commodity-grade steel and aluminum.

Meanwhile, finished products made with imported materials will face a reduced tariff of 25%. This move aims to balance protection of domestic industries with consumer pricing concerns.

Speculation is rife that a presidential proclamation detailing these changes could be announced as soon as this week, though Reuters has not been able to verify the report independently.

(With inputs from agencies.)