Impact of US’ high import tariffs on Russia’s aluminum
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Update time : 2023-02-08 16:45:43
It was reported that the US is planning a 200% import tariff on Russia’s aluminum in order to weigh on Moscow due to its invasion of Ukraine.
According to statistics, the US total aluminum imports from Russia amounted to 183,000 tons, accounting for merely 3.17% of the total imports. Besides, the US has enough capacity to increase its own aluminum production, but production costs will rise, said an expert.
Another expert said that Russia’s aluminum exports will not drop significantly if the US imposes such high tariffs on imports as Russia’s aluminum companies have diversified their exports. However, the expert expressed his concerns about potential similar tariffs imposition by the EU incited by the US.
