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Steel and aluminum imported into the U.S. will now be taxed at the rates of 25% for steel and 10% for aluminum.
The tariff will have a profound effect on metal reliant industries like construction.
The tax will increase imported metal pricing leveling the playing filed between foreign and domestic industries. The tariff is aimed to increase local demand and to strengthen the U.S. metal industry.
Mexico and Canada have been given exemption from the tariff while the European Union, Australia, Argentina, Brazil, and South Korea have been given temporary exemptions.