Trump Rewrites the Rules: Steel Tariffs Hit 50% on Full Customs Value

On April 2, 2026, President Donald Trump signed a presidential proclamation that fundamentally restructured how the United States calculates tariffs on imported steel, aluminum, and copper. Under the new rules, effective April 6, goods made almost entirely of steel now face a flat 50% tariff applied to their full customs value — not just the metal content, as had been the previous practice. This means products like steel coils and aluminum sheets carry a dramatically heavier import duty burden overnight. The White House framed the move as necessary to protect national security and bolster domestic manufacturing of strategic metals. A second tier of 25% applies to derivative articles that are substantially, though not entirely, made of steel or aluminum. A transitional 15% rate applies to heavy industrial equipment through December 31, 2027, designed to ease the burden on companies building out U.S. infrastructure. The proclamation added dozens of new product categories to the tariff scope while removing hundreds of low-metal-content goods, reshaping the compliance landscape for importers. Trade Representative Jamieson Greer noted that simplified compliance requirements could benefit some manufacturers previously hurt by prior tariff structures. The change took effect with no carve-out for goods already in transit, catching some shippers off guard and triggering immediate customs guidance from CBP on May 6, 2026. Analysts expect the policy to sustain elevated domestic steel prices well into the second half of the year.