Trump cuts steel and aluminum tariffs for U.S. manufacturers
Steel tariffs drop from 25% to 15%, with potential savings for North American companies through 2027.
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U.S. President Donald Trump signed a proclamation Monday cutting tariffs on steel, aluminum, and copper imports — moves that could affect Canadian manufacturers and exporters selling into the U.S. market.
The adjusted tariffs will drop from 25 per cent to 15 per cent, and industrial equipment like bulldozers and forklifts will now face a 15 per cent tariff instead of facing steeper rates. Foreign companies can qualify for a reduced 10 per cent duty rate if their capital equipment includes at least 85 per cent U.S. melted, poured, smelted, or cast steel or aluminum by weight.
The White House framed the changes as temporary, lasting until December 31, 2027, to encourage near-term investments in rebuilding the U.S. industrial base. For Canadian producers and cross-border manufacturers, the lower tariff window presents a window to move goods into the American market at reduced cost — though the temporary nature means companies will need to plan around the 2027 expiration date.
Canada continues to navigate U.S. trade policy shifts under Trump's second term, with the broader CUSMA trade deal also under scrutiny as it faces a July 1 review.