President Donald Trump signed a proclamation establishing a new tariff structure for imported steel, aluminum, and copper products. The measure replaces the existing Section 232 metals tariffs with a tiered system based on metal content and product type.

Under the new structure, products made entirely or almost entirely of aluminum, steel, or copper will face a 50% tariff on their full value. Items substantially made of these metals will be subject to a 25% tariff.

The proclamation sets a 15% tariff rate for certain metal-intensive industrial equipment and electrical grid equipment through 2027. Products manufactured abroad using entirely American steel, aluminum, and copper will face a reduced 10% tariff rate.

Products containing 15% or less of steel, aluminum, or copper will no longer be subject to Section 232 metals tariffs under the new system.

The proclamation establishes that tariffs will be calculated based on the full value of imported products rather than what the administration characterized as artificially low foreign prices. The new rules aim to provide clearer guidelines for calculating Section 232 metals tariffs.

The changes affect how tariffs are assessed on various metal products, from basic materials like steel coils and aluminum sheet to more complex manufactured goods containing these metals.