US plans 200% tariff on Russian aluminum this week
The United States is preparing to impose a 200% tariff on Russian-made aluminum as early as this week to keep pressure on Moscow, Bloomberg reported (www.bloomberg.com/ne...as-soon-as-this-week), citing people familiar with the situation.
The move has been under consideration for months, the sources said, adding that the US is also targeting the Russian metal because Moscow has been dumping aluminum on the US market and harming American companies.
President Joe Biden has yet to formally authorize the action, though there have been concerns in the administration about collateral damage to US industries, including aerospace and autos.
Russia is a significant source of material for the American market and the world's second-largest producer of aluminum outside of China, meaning such steep tariffs would effectively end US imports of the metal from Russia, potentially hurting American buyers.
The United States is preparing to impose a 200% tariff on Russian-made aluminum as early as this week to keep pressure on Moscow, Bloomberg reported (www.bloomberg.com/ne...as-soon-as-this-week), citing people familiar with the situation.
The move has been under consideration for months, the sources said, adding that the US is also targeting the Russian metal because Moscow has been dumping aluminum on the US market and harming American companies.
President Joe Biden has yet to formally authorize the action, though there have been concerns in the administration about collateral damage to US industries, including aerospace and autos.
Russia is a significant source of material for the American market and the world's second-largest producer of aluminum outside of China, meaning such steep tariffs would effectively end US imports of the metal from Russia, potentially hurting American buyers.