President Trump [AFP=Yonhap News Photo] 

U.S. President Donald Trump has decided to apply a 10% preferential tariff on foreign equipment and machinery that uses 85% or more of U.S.-made steel and aluminum, in an effort to increase the use of these metals.

In addition, tariffs on some equipment, such as agricultural machinery, have been lowered from the previous 25% to 15%.

The White House announced on the 1st (local time) that President Trump signed a proclamation adjusting tariffs on steel, aluminum, and copper imports in this manner.

According to the proclamation, foreign products that use 85% or more of U.S.-made steel and aluminum by weight will be subject to a 10% preferential tariff rate.

The White House explained that this measure is intended to encourage foreign companies to use U.S.-made metals.

Furthermore, tariff reductions have been implemented to promote investment in U.S. manufacturing and agriculture sectors.

The tariff rate on agricultural equipment such as combines and harvesters, as well as some other equipment, will be reduced from the current 25% to 15%.

The scope of industrial equipment subject to a 15% tariff has also been expanded to include mobile industrial equipment such as bulldozers and forklifts imported from countries with which the U.S. has trade agreements, which will now be subject to the same tariff rate.

These tariff adjustments will be temporarily in effect until December 31, 2027.

The White House stated, "These tariff changes are measures to promote short-term investments that will rebuild America's industrial base."

The Trump administration argued that tariffs on steel, aluminum, and copper imports contribute to strengthening America's national security and manufacturing competitiveness.

The White House explained that the U.S. became the world's third-largest steel producer last year, which has revitalized steel industry communities and provided good jobs for American workers.