The head of the largest US aluminum producer warns import tariffs will destroy demand for American metal, contrary to the Trump administration’s claim duties will revitalize the domestic industry.
Prices now are significantly higher in the US due to President Donald Trump’s 50% tariff on aluminum imports, Alcoa Corp. chief executive officer Bill Oplinger said in an interview Monday. Without changes, American customers or shareholders ultimately will pay that higher price, he said.
Oplinger’s comments are an escalation of his remarks in January when he said tariffs would have a “quieting effect” on demand. Trump set 25% import duties on aluminum in March and doubled them in June, saying tariffs are necessary to protect the American industry and revitalize production. Oplinger said the rate has left Alcoa with an annual tariff expense of about $850 million.
“It’s hard to envision a…
