The United States will impose 200% tariffs on aluminum and its derivatives produced in Russia starting March 10, the White House announced on Friday, the latest sanctions linked to Moscow’s invasion of Ukraine, Reuters reported.
Also, starting April 10, the US will apply a 200% tariff on aluminum imports that contain any amount of primary aluminum melted or cast in Russia, writes Agerpres.
Russian aluminum is produced by Rusal, which accounts for about 6% of global supplies. Deliveries to the US provided 7% of Rusal’s revenue in the first half of 2022.
Representatives of “Rusal” did not want to comment to Reuters.
Russian imports of aluminum make up a small portion of US supplies. Last year, imports of crude aluminum and alloys from Russia into the U.S. totaled 191,809 tons, or about 4.4% of the total of more than 4.4 million tons, compared to 8.9% in 2018 and 14.6% in 2017 year, according to statistics.
However, analysts said this month that if Russia retaliates after imposing 200% tariffs on aluminum, it could potentially limit exports of nickel or palladium, which are important to US imports.
Nickel is vital for the aerospace industry and batteries for electric cars, while palladium is a key component in the production of gasoline cars.
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Source: Hot News
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