The U.S. is considering a 200% tariff on Russian aluminum, according to U.S. officials.

(Bloomberg file photo)

[Financial Channel/Comprehensive Report] U.S. officials said on Monday (6th) that Washington is considering raising import tariffs on Russian-made aluminum to 200% to put more pressure on Moscow for invading Ukraine, but has not yet done so. make a decision.

The official said action against Rusal was something the U.S. was considering, but no announcement of any tariff hikes was expected this week, Reuters reported.

The official's comments came after Bloomberg first reported that the U.S. could impose 200 percent tariffs on aluminum produced in Russia as soon as this week.

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The report quoted people familiar with the matter as saying that Moscow dumped Russian metals into the U.S. market at prices below cost, causing damage to U.S. companies, and aluminum has therefore become a U.S. target.

"Reuters" reported in October last year that the Biden administration was considering restricting imports of Russian aluminum in response to Moscow's escalation of military operations in Ukraine.

The White House declined to comment on potential new tariffs or other restrictions on Russian aluminum; spokespeople for the Office of the U.S. Trade Representative (USTR), the Commerce Department, did not immediately respond to requests for comment.

The fall in prices of the widely used metal from record highs last year has helped slow inflation and prompted the United States to consider higher tariffs on Russian aluminum.

In March 2022, a month after Russia invaded Ukraine, the price of aluminum on the London Metal Exchange (LME) hit a new high of $4,073 per tonne.

Since then, prices have fallen sharply and could end the week around $2,441-$2,500 a tonne.

The U.S. is less dependent on Russian aluminum than it once was, accounting for just 3 percent of U.S. imports, according to the U.S. Census Bureau.

In 2018, the United States imposed a 10% tariff on global aluminum imports on national security grounds to revive American production.

Russia is also subject to some product-specific anti-dumping duties, including a 62.2 percent tariff on Russian aluminum foil.

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