American Aluminium Producer Alcoa Wants Exemption
American Aluminium producer Alcoa wants Exemption from Trump Rates. The American aluminium producer Alcoa wants exemption from the 10 percent rate on imported aluminium offered by President Donald Trump.
The company that supplies metal for cans from Coca-Cola and Boeing’s aircraft has filed a request with the US Department of Commerce.
Alcoa claims that a large part of the aluminium used for its products is not possible, or is insufficiently open in the US.
Exemption requests for this year will be 39,500 tons of aluminium, with the Canadian subsidiary of Alcoa having to deliver the metal.
Alcoa produces more aluminium in Canada than in the US and is therefore hit hard by the tariffs.
Alcoa’s request follows a few weeks after the company had come up with a profit warning.
In addition to the adverse impact of import duties, the company suffers from higher energy costs.