The United States (US) made a significant announcement on Tuesday, expanding the scope of steel and aluminum tariffs to hundreds of more industrial and consumer products, including baby seats, household appliances and heavy machinery.
According to a notice published in the Federal Register, the new move means that the 50% tariffs previously announced by President Donald Trump will also apply to the steel and aluminum content of 407 new types of products.
Among the affected goods are wind turbines, mobile cranes, bulldozers, railroad cars, furniture, pumps and compressors.
Secretary of the Bureau of Trade and Industry Security, Jeffrey Kessler, said the action is aimed at closing the tariff loophole and strengthening the domestic steel and aluminum industries.
Since returning to the White House, Trump has imposed tariffs ranging from 10% to 50% on almost all major trading partners, with certain sectors receiving higher rates.
While the immediate impact on inflation is still limited, analysts warn that higher costs will eventually be borne by consumers as retailers and importers are no longer able to absorb the burden of the tariffs.
