The US Commerce Department has announced an increase in tariffs on 407 products, including wind turbines, mobile cranes, bulldozers and other heavy equipment, as well as electric vehicle parts, with immediate effect. These products are now subject to a 50% tariff on any steel and aluminum content.
The tariffs also extend to imported parts for automotive exhaust systems and electrical steel for EVs, despite concerns from foreign automakers about insufficient domestic capacity to meet...
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