Trump administration may adjust steel and aluminum tariffs, says Greer

Investing.com -- The Trump administration is open to making changes to its broad tariffs on steel and aluminum products, US Trade Representative Jamieson Greer indicated Tuesday.

Speaking on CNBC, Greer acknowledged concerns about the administrative burden the tariffs have created for businesses.

"You may want to sometimes adjust the way some of the tariffs are applied for compliance purposes," Greer said. "We've heard stories of companies that have had to hire extra people for compliance. We're not trying to have people do so much bean counting they're not running their company correctly."

Administration officials are working to narrow the scope of the duties, which currently affect not only raw metals but also numerous products containing steel and aluminum.

While adjustments may be coming, Greer emphasized that the core metals tariffs would remain in place, describing them as "very successful" in strengthening domestic industry. "Clearly, those are going the right direction. They're going to stay in place," he stated.

The potential changes come amid pressure from business groups and trading partners. Companies have reported difficulties calculating the levies, and the European Union has requested modifications as part of ongoing trade negotiations with the US, according to a Bloomberg report Monday.

The White House has reportedly informed companies that adjustments are being developed, though specific details and timing remain unclear.

Last year, Trump imposed a 50% tariff on foreign steel and aluminum, a measure officials said targeted Chinese overcapacity. The action significantly impacted other major trading partners, including Canada, Mexico, South Korea and the European Union.

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