from the Dallas Fed
— this post authored by Michael Sposi and Kelvinder Virdi
The United States has announced that steel and aluminum imports will be subject to a new tariff plan. Steel imports would face a 25 percent duty and aluminum imports a 10 percent duty that would apply to all steel and aluminum imports except for those from North American Free Trade Agreement (NAFTA) countries, Canada and Mexico.
The U.S. had not previously applied tariffs on the steel products identified in the directive issued March 8. Those previously in place for aluminum products had averaged about 3.5 percent and ranged from 1.5 to 5.7 percent.
The set of steel products that would face the levy is fairly broad and covers finished products – carbon and alloy sheets, pipes, strips and plates, seamless or welded tubes, and stainless steel. Also included are semifinished products – solid forms of unfinished steel to be further forged, rolled or shaped into final steel products. Aluminum products include unwrought (raw) materials and processed materials, such as bars, rods, wire, foil, tubes, pipes, fittings, castings and forgings.
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Source
https://www.dallasfed.org/~/media/documents/ research/eclett/2018/el1805.pdf
