US EditionAlcoa CEO Warns 100,000 U.S. Industry Jobs at Risk Due to Trump’s Proposed Tariffs on Steel, Aluminum
- Alcoa warns that 100,000 U.S. Jobs in the industry are at risk due to proposed tariffs on steel and aluminum.
- President Donald Trump plans to impose a 25% tariff on all imported aluminum, starting March 4.
- The tariffs could eliminate about 20,000 direct jobs in the U.S. Aluminum industry and 80,000 indirect jobs.
- Alcoa is urging the Trump administration to exempt Canadian shipments from the tariffs to allow two-thirds of metal consumed in the U.S. To remain untaxed.
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Alcoa warns aluminum tariff could cost 100,000 U.S. jobs and not help lift production
Alcoa (NYSE:AA) -2.5% in Tuesday's trading, potentially headed for its lowest YTD closing price, after saying President Trump's plan to impose a 25% tariff on aluminum imports could knock out ~100K U.S. jobs and on its own would not entice higher domestic production.
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Alcoa's CEO says aluminum levy could cost 100,000 U.S. jobs. Here are all the tariffs set to hit the economy in coming weeks.
Bill Oplinger, chief executive of Pittsburgh-based Alcoa Corp., which produces aluminum in Canada, Australia and other countries, told the BMO Global Metals and Mining Conference Tuesday that the aluminum import tax could cost about 100,000 American jobs, according to a FactSet transcript. “This is
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Leaning Left2Leaning Right4Center10Last UpdatedBias Distribution63% Center
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