Proclamation reduces tariffs on select imports and introduces new rules for capital equipment to boost U.S. industrial investment.
U.S. President Donald Trump signed a proclamation amending tariffs on certain metal and industrial imports, effective until December 31, 2027. The changes lower tariffs on some agricultural equipment from 25% to 15% and impose a 15% tariff on mobile industrial equipment like bulldozers and forklifts from trade deal countries.
The order also introduces a 10% tariff for foreign companies if their capital equipment includes at least 85% U.S.-melted or smelted steel or aluminum by weight. The adjustments aim to encourage near-term investments in the U.S. industrial base.
The proclamation does not specify immediate market reactions but targets long-term supply chain and manufacturing shifts.