Steel/aluminum tariffs expanded and challenged

In late January, the Trump administration announced an expansion of the 10% aluminum and 25%t steel import tariffs to include derivative products such as nails, staples, electric wiring, etc. Argentina, Australia, Canada and Mexico are exempt from all new tariffs, and Brazil and South Korea are exempt from the new steel import tariffs. No exclusion process was announced. U.S. importer PrimeSource Building Products filed a lawsuit in the Court of International Trade challenging the new tariffs. This is the fourth legal challenge to the Section 232 tariffs. Senate Finance Committee Chair Chuck Grassley (R-Iowa) is drafting a bill to give Congress a role in the Section 232 process.