Century Aluminum Co's (CENX) stock surged 5.38% in the pre-market trading session on Tuesday, following President Donald Trump's announcement of new 25% tariffs on aluminum imports into the United States.
Trump's move aims to protect the domestic aluminum industry and jobs, stating that unfair trade practices have severely impacted American aluminum producers and workers. The tariffs, set to take effect on March 4, will be imposed on all aluminum imports without any exceptions initially.
The Chicago-based Century Aluminum, which operates several U.S. aluminum smelters, welcomed the tariffs, with CEO Jesse Gary stating that "President Trump's decisive action will protect national security and help level the playing field for America's aluminum workers." Other domestic aluminum producers like Alcoa also saw their shares rise on the news.
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