Tariffs on Imports Containing Russian Smelted or Cast Aluminum to Hit 200%
The White House announced that the United States will impose a 200% tariff on aluminum and its derivatives originating from Russia from March 10, 2023. Additionally, a 200% tariff on primary aluminum imports produced in Russia will be imposed from April 10.
The U.S. Department of Commerce cited the need to mitigate the impact of Russia’s invasion on critical domestic industries, including the American aluminum industry, as the reason for imposing the tariffs. By doing so, the U.S. aims to deprive Russia of a crucial market for its aluminum while supporting American workers. Russian aluminum is primarily produced by Rusal, which accounts for about 6% of global supplies. U.S. aluminum producer Alcoa welcomed the tariffs, advocating for sanctions as the most effective means for the government to take action against Russia and level the playing field for U.S. producers.
The tariffs will likely have a minimal impact on the aluminum market in the United States as the country imports only a small percentage of its aluminum from Russia. According to Trade Data Monitor, U.S. imports of unwrought aluminum and alloys from Russia were only about 4.4% of the total last year.