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Rio Tinto Canada Concerned US Aluminum Import Tariffs

Metal News - Published on Tue, 11 Aug 2020

Image Source: Rio Tinto Canada Section 232
Rio Tinto has responded to the tariffs US President Donald Trump put on aluminum imports August 6. Rio Tinto’s BC Works General Manager Affonso Bizon said “We are working with our US customers to minimize any negative impacts to the integrated supply of aluminium in North America. Aluminium from Canada is a historic source of strength for manufacturers in the US and we are committed to ensure a steady supply of metal to the US during the current uncertain economic conditions. The application of the 232 tariffs to Canadian aluminium is unfortunate as it only increases prices for US consumers, undermines market confidence in secure supplies of aluminium in North America and is a distraction from implementing the USMCA regional trade agreement.”

According to a media release from the Aluminium Association of Canada, overall exports of primary aluminum from Canada into the United States declined by about 2.6 per cent from May to June and primary aluminum import volumes from Canada for the first 6 months of 2020 were nearly 5 percent lower than same period in 2017. Aluminium Association of Canada said “Canadian aluminium has been a key competitive advantage for US manufacturers since the beginning of the 20th century and is recognized in United States law as a contribution to the nation’s defence and an important component of its industrial base. While the US produces, at best, one million metric tons a year of primary metal, it consumes six times that amount. Re-imposing tariffs only raises costs for US consumers and businesses in the middle of economic recovery efforts.”

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Posted By : Yogender Pancholi on Tue, 11 Aug 2020
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