The White House implemented targeted Section 232 tariff adjustments on steel, aluminum, and copper today, June 8, 2026. These temporary modifications remain in effect through December 31, 2027. The policy aims to reduce costs for farming, construction, and manufacturing while supporting domestic metal production.
The administration reduced tariff rates from 25% to 15% for specific imports including harvesters, HVAC systems, bulldozers, and forklifts. Foreign-made equipment now qualifies for a 10% preferential rate. This rate applies to products containing at least 85% U.S.-sourced metal. The previous threshold required 95% domestic metal content. Conversely, the government added steel racks and aluminum lithographic plates to the 25% tariff list.
Shares of Deere & Co. and Caterpillar rallied following the initial June 1 announcement. Analysts expect lower input costs to provide a significant tailwind for equipment manufacturers. The policy particularly benefits companies that rely heavily on imported finished goods.