BEIJING: The China Nonferrous Metals Industry Association on Tuesday expressed strong dissatisfaction with and firm opposition to the U.S. government’s move to impose additional tariffs on aluminum products.
The U.S. government on Feb. 10 announced that it will adjust tariffs on certain steel and aluminum imports, with the U.S. Federal Register revealing the tariff adjustment plans in recent days.
The association made its statement in response to the U.S. move. It noted that the aluminum industry plays a crucial role in the global supply chain, and that the U.S. move is set to disrupt the balance of supply and demand in the global aluminum industry and related sectors, leading to price volatility and impacting the interests of global aluminum producers, traders, consumers and related supply chain enterprises.
This case of U.S. unilateralism and protectionism aims to seek “protective umbrellas” and “safe havens” for the U.S. aluminum industry’s technological shortcomings, low energy efficiency, high carbon emissions and overall weak competitiveness, the association said.
The U.S. practice has seriously violated the World Trade Organization’s basic principle of promoting fairness and non-discrimination in trade.
The United States, as the world’s largest importer of aluminum products, will see the tariff hikes impact foreign aluminum companies’ exports to the country.
These hikes are expected to raise the costs of importing electrolytic aluminum, aluminum materials and aluminum products significantly for the United States, the association said, adding that ultimately, these costs will be borne by U.S. consumers as they are passed on to the downstream manufacturing sector.
