As many readers know, U.S. President Donald Trump signed proclamations that levied a 25 percent tariff on steel articles and a 10 percent tariff on aluminum articles imported from all countries except Canada and Mexico. These duties go into effect at 12:01 a.m. eastern daylight time on March 23, 2018.
On Wednesday, new information became available on mode of implementation. Once the tariffs go into effect for the foreign metals, an additional tariff number will be needed. Therefore, your company will continue to show the regular 1-97 tariff number, but also show a chapter 99 tariff number. Aluminum will be covered with number 9903.85.01 and steel will be covered by 9903.80.01.
These tariffs predominantly impact raw materials rather than finished goods. Additionally, products manufactured in Canada, the United States, and Mexico are currently exempt.