Century Aluminum Company applauded President Trump's decision to increase Section 232 tariffs on foreign primary aluminum imports from 25% to 50%. This action, announced on Friday, June 2, is aimed at safeguarding the supply of critical metals for national security and encouraging investments in U.S. job creation.
CEO Jesse Gary stated that President Trump's firm support for U.S. aluminum production and American jobs is crucial for the resurgence of the domestic aluminum industry. The increased tariff rate is expected to significantly enhance the competitive position of U.S. producers.
In response to this policy, Century Aluminum announced its intention to build the first new aluminum smelter in the U.S. in 50 years. This monumental project has the potential to double the existing domestic production capacity, marking a major strategic expansion for the company.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.