US Expands Tariffs to Consumer and Industrial Goods

US Expands Tariffs to Consumer and Industrial Goods

USA: The US administration has expanded its steel and aluminium tariffs to cover a wider range of products, including household appliances such as air conditioners, office furniture, knives, and energy equipment like generators. Other affected items include motorcycles, bulldozers, and rail cars. The tariffs, which were raised from 25 percent to 50 percent earlier this year, took effect immediately after the announcement, leaving importers little time to adjust. These measures follow earlier duties imposed on metals imports from trading partners including Canada and Mexico and come as discussions continue on potential tariffs on semiconductor products, with certain exemptions for companies investing in domestic manufacturing.

Alongside these trade actions, the administration has linked tariffs to broader foreign policy concerns. It has signalled the possibility of additional levies on India in response to its purchases of Russian oil, citing the impact on international efforts regarding Ukraine. The US Treasury has criticised India for re-exporting refined products derived from Russian crude, describing the practice as a form of arbitrage. The expansion of tariffs and potential new measures highlight the administration’s ongoing use of trade policy tools across multiple sectors.

Source: Quartz