Trump signed a proclamation to adjust aluminum import tariffs, citing insufficient domestic production. He aims to boost US primary aluminum output via an incentive program for smelter investments.
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US President Donald Trump said on Monday (July 20) he signed a proclamation to adjust tariffs on imports of aluminium into the United States, adding that the domestic production of primary aluminium in the US was currently insufficient.
Here are quotes and details:
Here are quotes and details:
- “In the (Commerce) Secretary’s view, it is important to modify the aluminium tariff regime in a way to more effectively encourage increased domestic production of primary aluminium,” Trump said in the proclamation released by the White House.
- US demand for primary aluminium currently outpaces the production capacity of US smelting facilities, according to the proclamation.
- Trump described aluminium as being critical to the US economy and defence industrial base.
- The proclamation directed the US Commerce Secretary to establish an incentive program for companies that will invest in building, expanding, or refurbishing aluminium smelters in the United States, the White House said.
- The program will request onshoring plans from companies that, if approved, will be eligible to import a commensurate level of primary aluminium into the United States at a reduced tariff rate equal to half of the otherwise applicable Section 232 rate, the White House said in the proclamation.
- Section 232 of the Trade Expansion Act of 1962 authorises the president to adjust imports found to threaten US national security.