Russia Hit with 200% Tariffs on Aluminum ImportsMarch 1st, 2023 by Editor
The White House announced a 200% tariff on all imports of Russian-made aluminum to strip Russia of international trade privileges, officials said. The aluminum tariffs are in addition to increased tariffs on 100 Russian metals, minerals and chemical products worth around $2.8 billion.
White House officials say the U.S. will also significantly increase costs for aluminum smelted or cast in Russia to enter the U.S. in “order to counter harm to the domestic aluminum industry, which is being squeezed by energy costs due to Russia’s invasion of Ukraine.”
U.S. trade representative Katherine Tai says that under the authority of the Suspending Normal Trade Relations with Russia and Belarus Act, the tariff rates on most metals and metal products will double from 35 to 70%. Tariffs on chemicals and minerals will increase to 35%.
“These actions are carefully calibrated to put economic pressure on Russia while minimizing costs to U.S. consumers,” says Tai. “As President Joe Biden said in Poland earlier this week, the U.S. and its allies and partners will hold accountable those responsible for this war.”
Reuters reports that U.S. imports of unwrought aluminum and alloys from Russia amounted to 191,809 tons, or roughly 4.4% of the more than 4.4-million-ton total last year, compared with 8.9% in 2018 and 14.6% in 2017, per Trade Data Monitor.