US Aluminum Association Urges Trump to Reconsider 50% Tariffs
The Aluminum Association has urged the Trump administration to reconsider a 50% tariff on imports because of the negative impact it would have on manufacturers.
The tariffs, which take effect June 4, “threaten to undermine the very industry the administration is seeking to support,” the association, which represents the U.S. industry’s supply chain and 70% of domestic production, said in a statement Wednesday.
Aluminum and steel are fundamentally different metals with different supply chains, market dynamics and strategic challenges. “A one-size-fits-all approach to trade policy for these strategic materials risks unintended consequences for the U.S. economy and our national defense.”
A 50% tariff could also raise prices for consumers, reduce demand and undermine the aluminum industry’s ability to serve the U.S. defense industrial base, the statement said.
Aluminum companies need a reliable supply of metal, protection from metal being reshipped from non-market economies and certainty in the tariff landscape.
Source: Bloomberg
