New Section 232 Tariff Overhaul: Winners, Losers, and Unintended Consequences

On April 2, 2026, President Donald J. Trump issued a proclamation modifying the Section 232 tariff regime for aluminum, steel, and copper (which we will collectively refer to here as the “metal”) and derivative aluminum and steel articles, effective April 6, 2026. One of the most significant changes is that Section 232 duties will be assessed on the full customs value of covered derivative articles rather than solely on the metal-content portion. The proclamation also introduces a de minimis... By: Sheppard, Mullin, Richter & Hampton LLP