The White House Slashes Tariffs On Construction Equipment To 15%
The Trump administration is taking an ax to construction equipment levies in hopes of boosting national industrial investment.
Starting June 8, import taxes on certain equipment derived from aluminum, steel and copper, such as forklifts and residential HVAC systems, will drop to 15%. Those products had been at a 25% rate.
The changes will last until the end of next year, according to a Monday proclamation by President Donald Trump. Foreign companies using equipment made up of at least 85% U.S. aluminum or steel could qualify for an even lower rate of 10%.
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