Tariffs on New Derivatives to Take Effect at Midnight
Section 232 tariffs on the new steel and aluminum “derivatives” outside of Chapters 73 and 76 will take effect at 12:01 a.m. tonight, CBP said in a pair of CSMS messages. The March 12 effective date is in line with the other Section 232 duty increases announced in February, including an end to all country-specific quotas and exclusions and an increase in aluminum tariffs to 25%.
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The tariffs on the derivatives outside of Chapters 73 and 76 – which only apply to a good’s steel or aluminum content, respectively -- had been on hold until the commerce secretary certified that tariff collection systems were ready earlier today.