Trump Announces New Tariffs Exempting Energy, Metals, and USMCA Imports

President Donald Trump will implement a 10% tariff on US imports, effective 24 February, after the Supreme Court struck down his previous emergency tariffs. The new tariffs exempt energy, critical minerals, fertilizers, and USMCA-eligible products. This move aims to maintain trade leverage while protecting essential imports.

Trump New Tariffs Exempt Metals, Energy, and USMCA Products

The Trump new tariffs exempt metals, energy, and USMCA imports under Section 122 of the Trade Act of 1974. Section 122 allows temporary tariffs up to 15% for balance-of-payments concerns, valid for 150 days unless Congress approves an extension.

The exemptions specifically cover steel, aluminum, cars, auto parts, beef, oranges, tomatoes, and natural resources unavailable in the US. These targeted exclusions mitigate disruption to energy and metals supply chains while preserving essential trade flows under the United States-Mexico-Canada Agreement.

Meanwhile, the administration will launch Section 301 investigations to target countries discriminating against US exports. China remains a primary candidate under this provision due to incomplete compliance with the 2020 US-China trade agreement.

Uncertainty Over Refunds and Future Tariffs

The Trump administration rescinded all previous emergency tariffs, including those on Brazil and other countries trading with Iran. However, the executive order provides no mechanism to refund the estimated $175 billion collected under prior tariffs.

Legal experts, including Kathleen Claussen, warn that Section 122’s 150-day limit could be extended unilaterally, creating uncertainty for importers and metals markets. Lawmakers from both parties have voiced concern over tariff impacts, but Congress has not blocked prior measures.

SuperMetalPrice Commentary:

The Trump new tariffs exempt metals, energy, and USMCA imports decision stabilizes some key supply chains while maintaining strategic leverage. Metals, battery material, and energy markets may experience short-term volatility, particularly in pricing and import flows. Companies should monitor Section 301 developments and USMCA compliance closely to mitigate potential cost impacts.