![]() The Quebec government said Monday it will financially support smaller aluminum producers should they be squeezed by the tariffs. Meantime, Dube of Sotrem-Maltech is left wondering exactly how the tariffs will be imposed and who will be on the hook. imposed tariffs on Canadian steel and aluminum, raising fears of a trade war, aluminum associations from Europe, the United States, Japan, Brazil and Mexico gathered Monday in Montreal to establish a “road map” for a forum on Chinese overcapacity similar to the one created for the steel industry at the G20 summit in Hangzhou, China in 2016. has already slapped tariffs on suppliers from the Middle East and is slated to impose sanction on Russia’s largest aluminum producer, United Company Rusal, Trump’s tariffs could create a supply shortage that would paradoxically make Chinese imports more competitive in the United States, the U.S association has warned.Ĭhina has been blamed for flooding global markets with excess steel and aluminum and has faced allegations that subsidies to its domestic producers have suppressed global pricing.ĭays after the U.S. We’re just not sure tariffs are the way to go about tackling that problem.” anymore,” said Matt Meenan, senior director of public affairs, for the association. “We do have concerns that we don’t have much of a smelter base in the U.S. Aluminum Association has called for quota and tariff-free trade with all market-based economies. “They’ve undone so much capacity and restarting that is not cost effective,” said Benjamin Reitzes, Canadian rates and macro strategist at the Bank of Montreal.“The likely impact will be on prices as much as anything else.”Ĭoncerned about the impact on aluminum costs which have already hit record highs this year, the U.S. This advertisement has not loaded yet, but your article continues below. ![]()
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