US adds 407 product categories to steel and aluminum tariffs list

The U.S. Department of Commerce on Tuesday announced the addition of 407 product categories to its list of "derivative" steel and aluminum products subject to tariffs.

"Today’s action covers wind turbines and their parts and components, mobile cranes, bulldozers and other heavy equipment, railcars, furniture, compressors and pumps, and hundreds of other products," the Commerce Department said in a statement.

The products added to the list will be subject to a duty rate of 50%, the statement said.