April ’26 at-a-glance … taxes, tariffs & trade

April 6, 2026

Administration announces changes to Section 232 metals tariffs 

On April 2, a Presidential Proclamation and accompanying fact sheet revised Section 232 tariffs on aluminum, steel and copper imports, effective April 6.  

  • Tariffs are now assessed on the full value of imported steel, aluminum, and copper products paid by U.S. customers, rather than the value provided by foreign importers.  
  • The Proclamation establishes clear rules for calculating Section 232 metals tariffs. 
  • Articles made entirely or almost entirely of steel, aluminum or copper pay a flat 50% on the full value. (See Annex I-A in the link above.) 
  • Derivative articles that are at least 15% steel, aluminum or copper pay a flat 25% on the full value. (See Annex I-B in the link above.) 
  • Certain metal-intensive industrial equipment and electrical grid equipment pays 15% through 2027. (See Annex III in the link above.) 
  • Products made abroad but entirely with American steel, aluminum, and copper are subject to lower tariffs of 10%. (See Annex I-A in the link above.) 
  • Products made of 15% or less steel, aluminum, or copper will no longer be subject to Section 232 metals tariffs. (See Annex II in the link above.) 
  • The prior derivative-inclusion processes established in 2025 are terminated. Now, the Secretary of Commerce and U.S. Trade Representative are authorized to include additional derivative articles when imports threaten national security. 
  • Existing trade agreements with the UK, EU, Japan and South Korea – and other partners that provide tariff reductions – remain in effect. 

IEEPA Tariff Refunds set to begin mid-April 

Customs and Border Protection (CBP) reports that the IEEPA tariff refunds claim portal will be operational mid-April. The initial phase of the refunds will cover 63% of the 53 million import entries that are unliquidated. Liquidated entries, those made permanent typically within a year of the entry, will take longer to process.  

In February, the U.S. Supreme Court struck down the IEEPA tariffs and ordered the return of an estimated $166 billion to importers.  

NAFEM regularly updates the Taxes, Tariffs and Trade webpage with the latest information.