Trump Cuts Farm, Industrial Equipment Tariffs to 15% Until 2027
Updated
Updated · The Economic Times · Jun 2
Trump Cuts Farm, Industrial Equipment Tariffs to 15% Until 2027
2 articles · Updated · The Economic Times · Jun 2
Summary
A new presidential proclamation lowers US tariffs on farm and industrial equipment to 15% from 25%, with the cut taking effect June 8 and lasting through December 2027.
The White House said the temporary relief is meant to spur near-term investment, ease rising costs for farmers and manufacturers, and help rebuild the US industrial base.
The order also widens eligibility for the lower rate to more mobile industrial machinery imported from countries covered by US trade agreements, including bulldozers and forklifts.
The tariff change modifies existing metals-related measures that Trump says support national security while trying to bolster agriculture, housing and manufacturing.