News ID: 112790
Publish Date : 25 February 2023 - 22:49

U.S. to Impose 200% Tariff on Aluminum From Russia

WASHINGTON (Reuters) - The United States will impose a 200% tariff on aluminum and derivatives produced in Russia from March 10, the White House said on Friday.
The United States will also apply a 200% tariff on aluminum imports of primary aluminum produced in Russia from April 10.
“President Biden has made it a priority to mitigate the effects of Russia’s invasion on domestic industries critical to our national security, and this includes the American aluminum industry,” the U.S. Department of Commerce said.
“In imposing these tariffs, we are denying Russia an important market for its aluminum while taking a stand for America’s workers.”
Russian aluminum is produced by Rusal, which accounts for about 6% of global supplies.
“Alcoa welcomes the imposition of tariffs by the U.S. government on Russian aluminum,” the U.S. aluminum producer said. “We continue to advocate for sanctions as the most effective means for the government to take action against Russia and level the playing field for U.S. producers.”
Neither Russian metal nor the companies that produce it have been targeted by sanctions imposed on some Russian companies in response to Russia sending troops into Ukraine last year.
In 2018, however, U.S. Treasury Department sanctions on Rusal froze the bulk of the company’s exports, paralyzed its supply chain and scared off customers.
The sanctions also fueled a jump in aluminum prices on the London Metal Exchange.