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Thursday, May 30, 2024

US – duty on aluminum from Russia is to be 200 percent

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The US will impose a 200 percent tariff on Russian aluminum this week, Bloomberg reported. This is one of the most important goods imported by the US from Russia.

According to the agency, 200 percent. the duty will in practice mean the end of Russian aluminum imports to USA.

200% duty on Russian aluminum

The move has been under consideration for months, according to Bloomberg sources, and is intended not only to increase pressure on Russia around the anniversary of its invasion, but also the end of metal dumping by Russia, which was supposed to have a detrimental effect on American companies.

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Russia is the second largest producer of aluminum in the world, and exports of this raw material to the USA account for approx. 10 percent of the total. value of all goods exported to America.

The key player in this sector is the RUSAL company founded by the oligarch Oleg Deripaska. Deripaska has been on the sanctions list for years, but his company was removed from the list in 2019 after the oligarch formally stepped down from running the company and divested himself of some shares.

Main photo source: Shutterstock

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