See the following message from NCBFAA regarding the reduction of Section 232 Tariffs on certain aluminum products.
White House Proclamation Proposes Reduction of Section 232 Tariffs to Incentivize Domestic Aluminum Production
President Trump on July 20 issued a proclamation based on the recommendation of the Commerce Secretary to reduce Section 232 tariff on certain aluminum imports if there are commitments from companies to pursue domestic production.
These actions, according to the proclamation, include building new facilities capable of producing primary aluminum, expanding facilities to become capable of producing primary aluminum, or refurbishing outdated facilities that produce primary aluminum to expand their production or increase the efficiency of production. For the Commerce Secretary to approve these plans, construction must be initiated by Jan. 20, 2029.
Specifically, the program will request onshoring plans from companies that, if approved, will be eligible to import a commensurate level of primary aluminum into the U.S. at a reduced tariff rate equal to half of the otherwise applicable Section 232 rate. Currently the Section 232 tariff is 25% for aluminum imports.
The proclamation further stated that Commerce Secretary will monitor and enforce all approved onshoring plans and, if a company fails to meet its agreed-upon commitments, may stop and rescind the tariff benefits, including retroactively.
If you have any questions, please contact our office.