March ’25 at-a-glance … taxes, tariffs & trade

Up-to-date resources for the latest information 

Expanded Section 232 tariffs of 25% on steel and aluminum for all countries took effect March 12. Tariffs also have been extended to certain steel derivative products, as outlined in the linked Federal Register notices. The previous exclusion process has been eliminated. It is reported that within 90 days, the Commerce Department will establish a process for adding products to the derivatives tariffs. The notice does not specify whether there will be an opportunity to object to an addition. 

With the tariff landscape rapidly evolving, NAFEM’s Taxes, Tariffs and Trade Resource Page is your go-to spot for the latest information on both U.S. tariffs and retaliatory tariffs imposed by other countries. The White House website also is usually the first place to have news of tariff and other trade activities. Members also can send questions to advocacy@nafem.org. 

Administration launches 232 investigation into copper, lumber and timber imports 

Despite possessing ample copper reserves, America’s smelting and refining capacity lags far behind global competitors. Because copper is the second most utilized metal by the U.S. Department of Defense, President Trump directed the Secretary of Commerce to initiate a Section 232 investigation to assess U.S. national security risks arising from the country’s increasing dependence on imported smelted and refined copper. Findings are due Nov. 22. 

A similar Section 232 investigation is underway for imports of timber, lumber and their derivative products. According to the White House, “current United States softwood lumber industry has the practical production capacity to supply 95% of the United States’ 2024 softwood consumption. Yet, since 2016 the United States has been a net importer of lumber.” Findings are due Nov. 26.