Commerce Department announces second Inclusion Process for Section 232 Steel and Aluminum derivative
by National Marine Manufacturers Association 3 Oct 06:59 PDT
Advocacy update © National Marine Manufacturers Association
President Trump issued new Section 232 tariffs on imports of timber, lumber and other wood products. Additionally, the Department of Commerce has announced new Section 232 investigations into several different imports that could affect marine manufacturers.
The investigations will cover imports of robotics, industrial machinery, and personal protective equipment (PPE).
In the President's announcement, he established new tariff rates - which will increase on January 1 - for timber, lumber, and derivative products, including:
- A 10% global tariff on imports of softwood lumber.
- A 25% global tariff on certain upholstered furniture, which will increase to 30% on January 1.
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