Trump Administration Expands Steel, Aluminum Tariffs to Derivative Products

The Trump administration has added 407 derivative product codes to the list of goods subject to the 50% tariffs on steel and aluminum imports. This includes publicly traded companies in the steel space such as ArcelorMittal, Cleveland-Cliffs, Nucor, Steel Dynamics, and US Steel, as well as those in the aluminum space including Alcoa and Century Aluminum.

The Trump administration has significantly expanded its 50% tariffs on steel and aluminum imports by adding 407 derivative product codes to the list of goods subject to these levies. This move, effective August 18, 2025, will impact a wide range of industries and publicly traded companies, including those in the steel and aluminum sectors [1].

The Commerce Department announced the addition of these product codes in a Federal Register notice. The new tariffs will apply to goods containing steel and aluminum, with non-steel and non-aluminum content subject to the existing tariff rates imposed on goods originating from specific countries [1].

Companies such as ArcelorMittal, Cleveland-Cliffs, Nucor, Steel Dynamics, and US Steel, all of which are publicly traded and significant players in the steel industry, will be directly affected by this expansion. Similarly, aluminum producers like Alcoa and Century Aluminum will also face increased tariffs [1].

Earlier on Friday, President Donald Trump hinted at further announcements on steel tariffs and semiconductor imports during a meeting with Russian President Vladimir Putin. This expansion of tariffs is part of the ongoing efforts by the administration to protect domestic industries and address trade imbalances [1].

The impact of these tariffs on the financial markets and the broader economy remains to be seen. However, investors and financial professionals should closely monitor the developments to understand the potential implications for these companies and the industries they serve.

References:
[1] https://www.reuters.com/business/us-commerce-dept-widens-products-subject-steel-aluminum-tariffs-2025-08-15/