A new US proclamation temporarily reduces Section 232 tariffs on specific steel, aluminum, and copper derivatives from June 8, 2026, through December 31, 2027. Duties on mobile industrial machinery, including forklifts, bulldozers, and tractors from allied partners like South Korea, Japan, Taiwan, and the EU, drop from 25% to 15%.
In addition, agricultural and HVAC (heating, ventilation, and air conditioning) equipment face a uniform 15% rate regardless of origin.
The revision eases the threshold for US-made steel content from 95% to 85% to qualify for lower 10% tariffs. Conversely, aluminum lithographic plates and steel racks face a new 25% duty.
South Korea’s Ministry of Trade, Industry and Energy estimates this relief covers about US$2.3 billion in exports, based on previous trade data.