The US White House once hoped to use 50% import tariffs to boost aluminum production capacity in the US, but now with aluminum prices soaring and the effect of increasing production is limited, it is “opening the door” for high tariffs. According to a Bloomberg report on the 20th, US President Trump signed an announcement on the same day to launch an investment incentive plan for raw aluminum production. As long as companies build, expand, or refurbish aluminum smelters in the US and obtain government approval, they can apply a preferential tax rate of about 25% on some imported raw aluminum, which is reduced by half from the current tax rate.

The US White House once hoped to use 50% import tariffs to boost aluminum production capacity in the US, but now with aluminum prices soaring and the effect of increasing production is limited, it is “opening the door” for high tariffs. According to a Bloomberg report on the 20th, US President Trump signed an announcement on the same day to launch an investment incentive plan for raw aluminum production. As long as companies build, expand, or refurbish aluminum smelters in the US and obtain government approval, they can apply a preferential tax rate of about 25% on some imported raw aluminum, which is reduced by half from the current tax rate.