Ship-to-shore cranes stand beyond shipping containers stacked dockside at the Port of Durban. (Photographer: Waldo Swiegers/Bloomberg)

U.S. Issues First Round of Products Excluded From Steel Tariffs

(Bloomberg) -- The U.S. Commerce Department announced the first round of products excluded from steel tariffs, citing no domestic availability or national-security concerns for 42 imports originating from Belgium, China, Germany, Japan and Sweden.

President Donald Trump in March imposed 25 percent tariffs on steel imports and 10 percent on aluminum, under Section 232 of a 1960s trade law. American companies were allowed to seek exemptions for certain metal products needed for their production.

Commerce on Wednesday announced its initial decision and said it will be “posting decisions on steel and aluminum exclusion requests on an ongoing basis.”

The exemptions were granted for seven companies, according to Commerce: Schick Manufacturing Inc. of Shelton, Connecticut; Nachi America Inc. of Greenwood, Indiana; Hankev International of Buena Park, California; Zapp Precision Wire of Summerville, South Carolina; U.S. Leakless, Inc. of Athens, Alabama; Woodings Industrial Corporation of Mars, Pennsylvania; and PolyVision Corporation of Atlanta, Georgia.

The department said it denied 56 exclusion requests from 11 companies.

©2018 Bloomberg L.P.