U.S. to Cut Some Import Tariffs for Countries With Trade Agreements

Next week, the United States plans to reduce tariffs on imports of agricultural and construction machinery, heating, ventilation and air-conditioning equipment, and a range of other industrial goods. The changes will apply to products from countries that have concluded trade agreements with Washington.

Under the order, tariffs on certain agricultural and industrial goods will be reduced from 25% to 15%. In addition, the authorities will expand the list of industrial equipment eligible for preferential tariffs for countries that have signed trade agreements with the United States.

The document also provides additional incentives for foreign companies to use American steel and aluminum. This would allow them to qualify for a 10% tariff.

Some existing tariffs on steel and aluminum will also be reduced as part of measures aimed at supporting construction, manufacturing and investment.

According to the White House, the changes will take effect on June 8 and remain in force until 2027.

The administration says the tariff adjustment is intended to “stimulate near-term investment that will help rebuild the country’s industrial base.”