Restructured Section 232 Steel, Aluminum, and Copper Tariffs Take Effect

The restructured Section 232 tariffs on steel, aluminum, copper, and derivative products — signed April 2 — took effect at 12:01 a.m. ET. The flat 50% tariff on full customs value represents a significant expansion from the prior narrower base. The activation coincides with the one-year anniversary of the original 'Liberation Day' tariff proclamation. Markets reacted with volatility as importers absorbed the new cost structure, and multiple trading partners reiterated warnings of retaliatory duties.