On February 11th, White House officials announced that aluminum tariffs will be raised from 10% to 25%. We will restore a 25% tariff on steel imports from all countries. This action will expand the scope of tariffs to include key downstream products. US President Trump has instructed customs officials to strengthen supervision of misclassification of steel and aluminum products. US President Trump signed two proclamations continuing the original content of the 2018 Section 232 investigation. Trump has ended the product exclusion process. The capacity utilization rate of the steel industry has decreased from the target of 80% to nearly 70%.
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