Section 232 tariffs now hit 407 items from refrigerators to cosmetics, colliding with Seoul’s deficit financing strategy

The U.S. has expanded its 50% tariff on imported steel and aluminum products to cover 407 additional derivative items, a measure that took effect on Aug. 18 at 12:01 a.m. EST. The new scope includes machinery, auto parts, electronic devices, refrigerators, transformers, tractors and even cosmetics packaged in aluminum containers, according to South Korea’s trade ministry. The tariff applies to the steel and aluminum content of affected goods, with the remaining portion subject to each country’s “reciprocal” tariff rate — set at 15% for South Korea.

The U.S. Department of Commerce finalized the expansion after reviewing industry petitions filed in May and conducting stakeholder consultations in June. While 60 items overlapping with other Section 232 measures were excluded, most requests were approved. South Korea’s Ministry of Trade, Industry and Energy said it will expand support programs for small and medium-sized firms facing import restrictions, lowering cost-sharing burdens and broadening consulting on content verification and certificates of origin.

The U.S. has expanded its 50% tariff on imported steel and aluminum products to cover 407 additional derivative items, a measure that took effect on Aug. 18 at 12:01 a.m. EST. The new scope includes machinery, auto parts, electronic devices, refrigerators, transformers, tractors and even cosmetics packaged in aluminum containers, according to South Korea’s trade ministry. The tariff applies to the steel and aluminum content of affected goods, with the remaining portion subject to each country’s “reciprocal” tariff rate — set at 15% for South Korea.

The U.S. Department of Commerce finalized the expansion after reviewing industry petitions filed in May and conducting stakeholder consultations in June. While 60 items overlapping with other Section 232 measures were excluded, most requests were approved. South Korea’s Ministry of Trade, Industry and Energy said it will expand support programs for small and medium-sized firms facing import restrictions, lowering cost-sharing burdens and broadening consulting on content verification and certificates of origin.

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