Trump Cuts U.S. Aluminum Tariffs 50% for Companies Investing in Domestic Smelters
The White House announced that President Trump signed a proclamation lowering aluminum tariffs by 50% for companies that invest in onshore smelter operations.
The directive empowers the Commerce Department to administer an incentive program, adjusting Section 232 trade duties for U.S. metal producers that meet the domestic investment requirements.
From the sources (5 posts)
@tradfi*PRESIDENT TRUMP SIGNED A PROCLAMATION OFFERING 50% REDUCED ALUMINUM TARIFFS FOR ONSHORING INVESTMENTS *U.S. ALUMINUM SMELTERS (AA, CENX) MAY NOW QUALIFY FOR REDUCED SECTION 232 TARIFF RATES #CENX • #AA
@financialjuiceWhite House: Trump takes further action to adjust imports of aluminum into the United States.
@firstsquawkTRUMP TAKES FURTHER ACTION TO ADJUST ALUMINIUM IMPORTS INTO THE UNITED STATES - WHITE HOUSE
@financialjuiceWhite House: Trump signed proclamation authorizing Secretary of Commerce to establish an incentive program for companies that will invest in aluminum smelters.
@financialjuiceThe US ties reduced the aluminum tariff rate to firms onshoring plans.