LONDON, May 7 (Reuters) – It’s two years since U.S President Donald Trump imposed 10% tariffs on imports of aluminium, citing national security concerns.
The stated aim was to provide a lifeline to domestic producers struggling against low prices and repeated waves of cheap product imports. Things aren’t panning out too well.
Don’t take my word for it. Take the word of the four U.S. lawmakers who have just written to Trump, warning, “it is clear that your current policies are not working”.
“President Trump got us into a trade war and the United States is not winning,” said Representative Suzan DelBene, whose district is home to Alcoa’s Ferndale aluminium smelter.
Alcoa has just announced it is placing the plant on care and maintenance, a major blow for an administration that set itself the target of lifting aluminium production to at least 80% of domestic capacity.
For the rest of this column: https://www.reuters.com/article/us-tariffs-aluminium-ahome/column-trumps-tariff-wall-breached-by-rising-tide-of-aluminium-andy-home-idUSL8N2CO80A