Expanded Tariffs on Steel and Aluminum
Negative and positive implications of Section 232 tariffs
Section 232 of the Trade Expansion Act of 1962 authorizes the president to impose trade restrictions — such as a tariff or quota — if the secretary of commerce determines, following an investigation, that imports of a good “threaten to impair” U.S. national security. In 2018, President [Donald] Trump proclaimed a 25% tariff on steel and a 10% tariff on aluminum imports from most trading partners under Section 232. During both the Trump and [President Joe] Biden administrations, the United States negotiated exemptions for some U.S. trading partners and granted entity-specific exclusions as well as General Approved Exclusions (GAEs) applicable…
