Market Chatter: Canada Aluminum Producers Shift Exports to Europe Amid US Tariffs, Bloomberg Says
MT Newswires Live
Sep 09
Aluminum producers in Quebec like Rio Tinto (ASX:RIO) and Alcoa (ASX:AAI) are diverting more of the metal to Europe as rising US tariffs make shipments more expensive for American customers, according to a Tuesday Bloomberg report.
According to the report, the US took 78% of Quebec's second-quarter aluminum exports, down from 95% in the first, while Europe's share jumped to 18% from just 0.2%.
US President Donald Trump reimposed a 25% tariff on aluminum imports in March and raised it to 50% in June.
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