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Bloomberg: US plans to impose a 200% duty on Russian aluminum

This material (information) was produced, distributed and (or) sent by a foreign agent of RS-Balt JSC or relates to the activities of a foreign agent of RS-Balt JSC. 18+

The US is preparing to impose a 200% duty on Russian aluminum this week. This was reported by Bloomberg, citing sources familiar with the situation.

According to the interlocutors of the agency, this measure was considered for several months. It is noted that the decision is due to the fact that Russian companies, in their opinion, are dumping on the US market, causing damage to American companies.

Such harsh tariffs will effectively stop the import of metal from Russia to the United States.

The US administration considered sanctions against Russian aluminum back in February 2022, but abandoned this, as such measures could undermine global supplies of this metal, Bloomberg reported earlier.

Russia’s Rusal is the world’s second largest metal producer outside of China, with a global market share of about 6%, and aluminum supplied from Russia traditionally accounts for about 10% of total US imports.

American Alcoa has previously lobbied for the exclusion of Russian metal from the LME listing. The company expressed concern that the conflict between Russia and Ukraine, in addition to the resulting humanitarian and energy crisis, could distort the market nature of aluminum prices and increase systemic risks to the reliability of the LME aluminum contract. The exchange refused to impose restrictions on Russian metal, saying in mid-November that it “should not make or impose ethical judgments on the broad market.”

Source: Rosbalt


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