Alcoa Corp., the largest US aluminum producer, warned that a threatened 25% tariff on imports of the metal from Canada would have a “quieting effect” on American consumption, despite otherwise strong demand expected in everything from packaging to electrical needs.
January 23, 2025 at 7:20AM EST --
The comment came amid the company’s fourth-quarter earnings during which it said it expects shipments to be 2.6 million tons to 2.8 million tons this year, outpacing the 2.59 million tons shipped in 2024. “A 25% tariff on aluminum products coming in from Canada has a $1.5 billion to $2 billion negative impact on consumers,” Oplinger said. “That will have a quieting effect on demand we believe in the US.”
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