Tax News Update    Email this document    Print this document  

March 9, 2018
2018-0534

US President Trump imposes tariffs on steel and aluminum products — Mexico and Canada excluded

United States (US) President Trump signed Presidential proclamations on March 8, imposing additional tariffs of 25% on specifically defined articles of steel, and additional tariffs of 10% on specifically defined articles of aluminum, effective on March 23. Both proclamations specifically exclude Canada and Mexico, and leave the door open to approving exemptions for additional countries that are able to reach agreement with the US on "satisfactory alternative means to address the threat to the national security" caused by imports from that country.

An Indirect Tax Services group Alert, attached below, provides additional details.

———————————————
ATTACHMENT

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement