ExecutiveOrdersEO
Proc 10947ProclamationTrump 47 · R

Proclamation 10947

Adjusting Imports of Aluminum and Steel Into the United States

TradeTradeEconomy & LaborEconomy & LaborDefense & SecurityDefense & Security

In simple terms

This proclamation doubles the existing Section 232 tariffs on steel and aluminum imports from 25% to 50% ad valorem, effective June 4, 2025. It modifies how Executive Order 14289's tariffs interact with these duties, subjects non-steel/non-aluminum content to reciprocal tariffs under EO 14257, mandates strict CBP compliance enforcement, and carves out the United Kingdom at 25% pending potential EPD implementation or quota adjustments after July 9, 2025.

Federal Register Open PDF 90 FR 24199

Record & deadlines

  1. Signed

    Signed by the President

  2. FR published

    Published in the Federal Register · 90 FR 24199

    Federal Register PDF

  3. CBP shall issue authoritative guidance on declaration requirements and penalties

  4. Secretary may adjust UK rates to quotas or increase to 50% based on EPD compliance

  5. 50% steel and aluminum tariffs take effect; EO 14289 amendment effective; foreign trade zone rules change

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Steel & aluminumAutosAerospaceDefense primesOil & gasOther industrial

Mechanisms

TariffQuota

Role pressure

  • ProtectiveDomestic producer — 50% tariffs provide substantial price support and competitive shield against low-priced imports; intended to raise capacity utilization to levels needed for national defense and sustained industry health
  • AdverseImporter — tariff doubling from 25% to 50% significantly increases cost of imported steel and aluminum; strict CBP content declaration requirements and severe penalty exposure raise compliance risk; no drawback available
  • AdverseDownstream manufacturer — higher input costs for steel and aluminum intensive production; non-steel/non-aluminum content now subject to additional EO 14257 reciprocal tariffs, creating layered duty exposure
  • MixedTrading-partner exporter — most countries face 50% tariff; UK temporarily shielded at 25% with potential quota path, but faces snapback to 50% if EPD compliance fails

Geographies

USUKCNEUJPKRCAMXOTHER

Exposure dates

  • — 50% steel and aluminum tariffs take effect; EO 14289 amendment effective; foreign trade zone rules change
  • — Secretary may adjust UK rates to quotas or increase to 50% based on EPD compliance

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

MMM3MEADSYAirbusAAAlcoaAAPLAppleBABoeingCATCaterpillarCENXCentury AluminumLNGCheniere EnergyCVXChevronCLFCleveland-CliffsCOPConocoPhillipsXOMExxon MobilFFordFCXFreeport-McMoRanGEGE AerospaceGEVGE VernovaGDGeneral DynamicsGMGeneral MotorsHONHoneywellHYMTFHyundai MotorLMTLockheed MartinNOCNorthrop GrummanNUENucorRTXRTX

Confidence: high · Policy alerts

Key directives

  • Increase steel and aluminum tariffs from 25% to 50% effective June 4, 2025
  • Amend EO 14289 section 3(a)(ii) to prevent double-tariff stacking on steel/aluminum articles
  • Subject non-steel/non-aluminum content to EO 14257 reciprocal tariffs
  • Apply additional duties only to steel content (Chapter 73) and aluminum content (Chapter 76)
  • CBP shall issue authoritative guidance mandating strict compliance with declaration requirements and maximum penalties
  • UK articles remain at 25%; Secretary may adjust to quotas or raise to 50% on/after July 9, 2025 based on EPD compliance
  • No drawback available on duties imposed
  • Secretary shall continue monitoring imports and inform President of need for further action

Who is ordered

Prior policy

  • otherProclamation 9704
  • otherProclamation 9705
  • otherProclamation 9980
  • otherProclamation 10895
  • otherProclamation 10896
  • amendExecutive Order 14289
  • supersedeinconsistent provisions of previous proclamations and Executive Orders

Related orders

What to expect

Immediate

  • 50% tariff takes effect June 4, 2025 at 12:01 a.m. EDT
  • EO 14289 amendment takes effect
  • foreign trade zone status rules change
  • strict CBP compliance guidance required

Near term (90d)

  • Secretary may adjust UK rates or impose quotas on/after July 9, 2025
  • CBP must issue authoritative guidance on content declaration requirements
  • Secretary may issue regulations and guidance
  • potential HTSUS modifications via Federal Register notice

Long term

  • ongoing Secretary monitoring of imports for national security
  • potential further presidential action if circumstances change
  • tariffs continue unless expressly reduced, modified, or terminated

Risks & tensions

  • Significant downstream cost pressure on U.S. manufacturers dependent on steel/aluminum inputs
  • UK carve-out creates potential arbitrage and transshipment monitoring challenges
  • Content-only tariff application (steel in Ch.73, aluminum in Ch.76) requires complex origin and content verification, creating compliance burden and enforcement uncertainty
  • Interaction with EO 14257 reciprocal tariffs on non-steel/non-aluminum content may create cumulative duty complexity
  • Foreign trade zone 'privileged foreign status' rule change disrupts existing inventory planning
Proclamation 10947: Adjusting Imports of Aluminum and Steel Into the United States · Executive Orders