The largest US aluminum maker has requested an exemption from tariffs on aluminium imported from Canada. The corporation has three plants in Canada supplying US companies with raw materials for aluminium cans production and the rest of products. According to Alcoa Corp., the company cannot find enough specialty aluminium alloys in the US.

The move follows Trump’s introduction of a 25% tariff on steel imports and 10% on aluminium imports in March. In this regard, many US companies have filed thousands of applications for the easing of the tariff regime.

In recent years, according to experts, aluminium production in the US has been steadily shrinking due to equipment deterioration and rising electricity costs. In the United States, Alcoa produces only 14% of aluminum. The introduction of duties on aluminum imports is seen to increase its costs by $12-14 million per month.

Read more: https://www.mt5.com/forex_humor/image/37196

https://instaforex.livejournal.com/1905575.html