Aluminium and steel have long been sensitive trade policy products. Tariffs on dumped and subsidised imports in these sectors are common. However, in his first term, President Trump went further and, having determined that imports of aluminium and steel threatened U.S. national security, his Administration levied tariffs on these metals—but not on products made with them.
Last month, in two Presidential Proclamations published in the Federal Register here and here, the U.S. Administration imposed duties on products made of aluminium or steel. Other significant steps included ending previously-agreed tariff-rate quota deals with trading partners and restricting product-specific exclusions, the latter two being beyond this briefing’s scope.
These proclamations impose tariffs for 289 aluminium and steel product categories, including 167 HTS codes for steel and 123 HTS codes for aluminium products, with one code appearing in both notices. Implementing regulations issued on 5 March 2025 clarified that the additional duties will be 25% upon the value of the aluminium/steel content.
We used the US International Trade Commission’s Dataweb to identify the implicated products and scale the potentially affected trade. Using this official source, we found the relevant product descriptions and extracted the total import value from each U.S. trading partner in 2024.
In 2024, the U.S. imported goods worth $151 billion in HTS codes listed as either aluminium or steel derivative products (see Table 1). This amounted to 4.5% of total U.S. goods imports. Two-thirds were aluminium derivatives and one-third were made with steel.
To provide further context, U.S. Customs and Border Protection reports collecting a total of $1.651 billion in duties on steel and aluminium products under the extant Section 232 measures. With a potential import tax base of $151 billion of derivative products, single digit effective applied rates on the latter would likely multiply revenues from aluminium- and steel-related products.
Four U.S. trading partners have $17 billion to $35 billion of exports at risk of import duties on these derivative products. China’s exposure is greatest, followed by Mexico, the EU, and Canada. Considering the EU members separately for the sole purpose of making the following calculation, a total of 27 foreign economies have over $500 million of exports at risk.
Vehicle parts and industrial components containing steel or aluminium, including subassemblies, feature prominently in the derivative products lists (see Table 2). The biggest item is automotive body parts and accessories, totalling over $18 billion in imports. Other sizable entries include air conditioning machine parts ($5.38 billion) and various mechanical appliances and machine parts ($5.73 billion). Semiconductor manufacturing equipment ($4.37 billion) is also in the top 10 exposed U.S. imports by value.
The new import taxes will cover many household goods made with steel or aluminium. Metal furniture is significant—over $6.38 billion in imports—while office-type metal furniture adds another $927 million. Kitchen-related products made of stainless steel ($2.55 billion) and aluminium cookware (over $1 billion) are also included. Everyday shipments of consumer products like sinks, non-electric cooking appliances, and door hardware are exposed.
Sports equipment also faces new duties, including fitness machines for cycling or rowing, weights, and exercise articles ($3.1 billion). Fishing reels and nets (collectively $300 million) will join archery gear ($147 million). High-profile sports articles such as baseball bats ($307 million), some football and ice-hockey equipment ($159 million), sports rackets ($72 million), and roller skates ($19 million) are included.
