Trade conflict
Association: Higher US tariffs on aluminum meet industry
US President Donald Trump wants to strengthen domestic industry. To do this, he once again relies on higher tariffs. This also applies to German aluminum manufacturers.
The German aluminum industry is concerned about the announced doubling of US tariffs to 50 percent. Another escalation is a shame for everyone involved, the Aluminum Germany industry association criticizes. A constructive dialogue between the European Commission and the US administration is more urgent than ever.
US President Donald Trump plans to double Zölle for the import of steel to the United States from currently 25 percent to 50 percent of the value of the goods. The tariffs on aluminum are also to be doubled to 50 percent. The new sentences should come into force this Wednesday.
According to the association, the absolute amount of German aluminum exports in the United States is around 51,000 tons or two percent of annual production in Germany. “This seems low, but the measures take the industry in an already tense situation,” said Aluminum Germany. “In addition, the new escalation level increases uncertainty for the companies.”
The indirect effects of the announced measures were even more concerned about: “Conventional delivery countries may lose access to the US market due to the huge amount of the customs duty and subsequently focus even more on the European market,” warned the association. The already significant import pressure on Europe is likely to continue to increase.
dpa
Source: Stern
