Trump Lowers Tariffs on Farm, HVAC Equipment; Expands Reduced Metal Duty Rates

President Donald Trump lowered tariffs on agricultural equipment and HVAC systems to 15% from 25% and expanded reduced-duty access for industrial machinery on Monday, a temporary change effective immediately and set to expire at the end of 2027. The executive order, issued June 2, 2026, cuts duties on combines, harvesters, and heating and cooling systems, while extending the 15% rate to mobile equipment such as bulldozers and forklifts imported from countries with U.S. trade agreements. Nations using at least 85% U.S.-made steel or aluminum by weight in their products may qualify for a 10% duty. The adjustment follows Trump’s escalation of Section 232 metals tariffs—hiking steel and aluminum levies to 50% in June 2025, and setting flat 50% rates on pure metal goods and 25% on derivative products in April 2026. Law professor Barry Appleton of New York Law School called the move an election-year concession, noting “farm bankruptcies are soaring” and Republican senators face midterm losses in key agricultural states.