Lafayette – Circa May 2020: Alcoa legacy signage. Alcoa is the world’s eighth largest producer of aluminum.
Alcoa Corp. said US import tariffs on Canadian aluminum in its third quarter cost it $69 million more than the previous three-month period, showing the continued impacts of the Trump administration’s trade measures on the industry.
The top US aluminum producer also warned that tariff costs on higher US imports are expected to increase by a further $50 million in its fourth quarter. That comes on top of about $20 million in “unfavorable impacts” tied to restart issues at San Ciprián smelter in Spain and lower third-party energy sales.
US President Donald 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. Alcoa, which is based in Pittsburgh, said in July that tariff costs on its…
