Donald Trump announces 25% to 15% tariff cut through 2027
Business
Trump just announced that tariffs on imported farming and industrial equipment are dropping from 25% to 15% until the end of 2027.
The idea is to help US businesses save money, encourage investment, and give a boost to local farming and manufacturing.
Tariff 10% for 85% U.S.-made steel/aluminum
The lower tariffs apply to specific agricultural machinery and, for mobile industrial machinery such as bulldozers and forklifts imported from countries covered by US trade agreements.
There's also an extra perk: if foreign-made equipment uses at least 85% U.S.-made steel or aluminum, the tariff drops even further to 10%.
The White House says this is all about strengthening supply chains and supporting key industries in the US.