It is known that the U.S. government will impose “bomb tariffs” on Russian aluminum and enter into sanctions to effectively block imports.
Bloomberg News reported on the 6th, citing multiple sources, that the US is preparing to impose a 200% tariff on Russian aluminum that invaded Ukraine.
The sanctions are expected to be officially announced this week.
Sources said the U.S. government had been considering such measures for several months, saying that Russia hurt U.S.-related companies by selling its own aluminum to the U.S. market at a bargain price.
In the meantime, the United States has been reviewing a full-scale import ban on Russian aluminum, imposition of high tariffs that can have the effect of effectively banning imports, and sanctions against Russian aluminum producer Rusal.
“Such high tariffs would effectively cut off the U.S. from importing aluminum from Russia,” Bloomberg observed.
Russia is the world’s second largest producer of aluminum, and Rusal is the world’s second largest aluminum company after China Hongqiao.
Russian aluminum accounts for 10% of US aluminum imports.
Therefore, this measure is expected to affect the global aluminum market as well.