U.S. incentive program to offer reduced tariff rates on primary aluminum imports for companies investing in domestic smelting
Approved onshoring plans grant primary aluminum imports at half the standard Section 232 tariff rate.
President Trump today signed a proclamation to establish an incentive program offering reduced tariff rates on imported primary aluminum for companies that commit to investing in domestic aluminum smelting facilities.
According to today’s White House release, under the new incentive program, the Secretary of Commerce will request onshoring plans from companies looking to build, expand, or refurbish aluminum smelters in the United States. If these plans are approved, companies will be eligible to import a commensurate amount of primary aluminum at a reduced tariff rate equal to half of the standard Section 232 rate.
The Secretary of Commerce will monitor and enforce compliance with these commitments and retains the authority to halt or retroactively rescind the tariff benefits if a company fails to meet its agreed-upon obligations.