If in doubt, double down.
Seven years ago President Donald Trump ordered 10% tariffs on US imports of aluminum with the stated aim of increasing domestic primary metal production.
They haven’t worked.
This time the tariff is going to be 25% without “exceptions or exemptions” effective March 4. Together with a similar-sized duty on steel imports, the ambition once again is to bolster industrial self-sufficiency in the name of national security.
This is not good news for US consumers, judging by the sharp jump in the price of aluminum delivered to the US Midwest.
It’s also highly uncertain just how effective yet higher tariffs will be in rejuvenating the country’s aging fleet of aluminum smelters.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
