The U.S. implemented a major overhaul of Section 232 tariffs on imported steel, aluminum, and copper on April 6, 2026.
The new policy calculates tariffs based on the full customs value of goods instead of only metal content. Articles composed almost entirely of targeted metals now face a 50% tariff. Derivative products containing substantial metal amounts are subject to a 25% tariff.
Certain industrial and electrical grid equipment will carry a 15% tariff through 2027. Prior analysis indicates these tariffs could increase capital costs for oil and gas projects by 4% to 40%. These rising expenses may delay final investment decisions for major infrastructure across the energy sector.