The US is preparing to impose a 200% tariff on Russian aluminum as early as this week. A person familiar with the matter said. The aim is to keep pressure on Russia as it nears a full year since it launched its invasion of Ukraine.
The idea had been under consideration for months, said the people, who asked not to be identified because it was inside information. It is also because Russia sells aluminum to the U.S. market at unreasonably cheap prices, harming U.S. companies, the people added.
President Biden has yet to formally approve it. Some in his administration are concerned about the damage to U.S. industries such as aerospace, he said.
Tariffs this high would effectively block Russian aluminum imports to the United States. Russia is the world’s second-largest producer of aluminum, and has accounted for about 10% of all U.S. aluminum imports.
The National Security Council (NSC) did not respond to a request for comment. Russian aluminum giant Rusal declined to comment.
news-rsf-original-reference paywall">Original title:US Plans 200% Tariff on Russian Aluminum as Soon as This Week(excerpt)
US Plans 200% Tariff on Russia Aluminum as Soon as This Week (1)(excerpt)
(add information and update)