Aluminum Fee Is Likely to Stay High, Even With Tariff Relief
Alcoa says the tariff-inflated premiums that U.S. aluminum buyers are paying likely won’t recede even if a deal is reached this year to scale back the 50% duty on aluminum from Canada. Canada is the largest supplier of imported aluminum to the U.S., but it isn't the only one. As long as the 50% duty remains on imports from other countries, Alcoa Chief Executive William Oplinger said the premium would remain elevated, as suppliers seek to recoup the cost of tariffs.
Alcoa says the tariff-inflated premiums that U.S. aluminum buyers are paying likely won’t recede even if a deal is reached this year to scale back the 50% duty on aluminum from Canada. Canada is the largest supplier of imported aluminum to the U.S., but it isn't the only one. As long as the 50% duty remains on imports from other countries, Alcoa Chief Executive William Oplinger said the premium would remain elevated, as suppliers seek to recoup the cost of tariffs.