The U.S. Department of Commerce has announced the addition of 407 product categories to its list of “derivative” steel and aluminum products subject to 50 percent tariffs.
The department’s Bureau of Industry and Security made the announcement on its website Tuesday, saying the action covers wind turbines and their parts and components, mobile cranes, bulldozers and other heavy equipment, railcars, furniture, compressors and pumps, and hundreds of other products.
U.S. Under Secretary of Commerce for Industry and Security Jeffrey Kessler said the move expands the reach of the steel and aluminum tariffs and shuts down avenues for circumvention, thereby supporting the continued revitalization of the American steel and aluminum industries.
South Korea’s industries are likely to face an inevitable impact.
The Korea International Trade Association(KITA) earlier said the newly added items include refrigerators and freezers, automobile parts, elevators, transformers, tractor parts and engines, electric wires and cables, forklifts, and hoisting and loading equipment.
KITA also noted that certain automobile parts and engine components that were not previously subject to tariffs have now been included.