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United States : US president announces 25% tariff on imported steel and 10% on aluminum

Mar 06, 2018 (Euclid Infotech Ltd via COMTEX) --

The US president has declared a 25% tariff on imported steel and 10% on aluminium for a potentially unlimited period, under a seldom-used 1962 law.

The tariffs, when passed would be the result of a process started by Commerce Secretary Wilbur Ross, however they are higher than the 24% and 7.7% which were among the possible options suggested by the Secretary.

As earlier described Roth Capital estimated that Secretary Ross proposed trade actions would add 1-3 cents per watt in the cost of PV installations, through creating the raw material for PV module frames, racking, tracking and mounting systems more expensive. Though, as president is seeking more severe action the impacts will doubtless be on the upper end of that range.

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