Eastern time on February 10, the US government announced the adjustment of steel and aluminum import tariffs, reinstating 232 steel and aluminum tariffs on global trading partners, and further increasing import tariffs on aluminum products. Recently, the Federal Register published the tariff adjustment plan. China Nonferrous Metals Industry Association expressed strong dissatisfaction and firm opposition to this.
What the US has done seriously violates the WTO's basic principles of fair trade and non-discrimination. The WTO has long ruled that the US 232 tariffs on steel and aluminum violate WTO rules. Instead of correcting them, the US has made repeated mistakes, which will seriously undermine the rights and interests of all countries and seriously undermine the rules-based multilateral trading system.
The US action will have an impact on the global industrial chain and supply chain. The aluminum industry is an important part of the global supply chain. The move by the United States will disrupt the supply and demand balance of the global aluminum and related industries, lead to price fluctuations, and affect the interests of global aluminum producers, traders, consumers and related supply chain enterprises. The Canadian Aluminum Association, the European Aluminum Association, the British Aluminum Association, the Vietnam Aluminum Association and other aspects of the concern and dissatisfaction, resulting in Alcoa, Hydro, Rusal, India Aluminum Industry Company, the United Arab Emirates aluminum and other large multinational aluminum groups face the risk of globalization, but also has been criticized and blamed in the United States. In fact, the United States' implementation of unilateralism and protectionism is to seek an "umbrella" and "haven" for its aluminum industry's backward technology, low energy consumption, high carbon emissions, and weak competitiveness. The international community generally believes that 232 tariffs have intensified trade protectionism, run counter to the collaborative needs of the global aluminum industry chain, and have an impact on the global supply chain.
This adjustment not only raises import tariffs, but also expands the range of products that American consumers will ultimately "pay for." Aluminum industry is a high energy consumption industry, China has not advocated exports, for electrolytic aluminum and aluminum exports, respectively, the implementation of 30%, 15% tariffs, and is the world's only country to prohibit new electrolytic aluminum production capacity, even if the United States needs our electrolytic aluminum, China will not export. For aluminum, China is also mainly to meet domestic demand and does not encourage exports. On November 15, 2024, China's Ministry of Finance and the State Administration of Taxation issued an announcement that since December 1, 2024, all export tax rebates for aluminum products have been canceled, and the number of aluminum exports to the United States has been greatly reduced. According to the latest plan announced by the United States, the scope of tax products will be expanded to some aluminum products and automobiles, machinery, furniture and home appliances, refrigeration, outdoor equipment and parts and other end products; The tax rate was raised from 10% to 25%. Among them, the products under Chapter 76 are taxed according to AD valorem taxes, and the final products are taxed according to the aluminum content. The United States as the world's largest importer of aluminum products, the tariff adjustment will affect the export of foreign aluminum enterprises to the United States, and significantly increase the cost of imports of electrolytic aluminum, aluminum and aluminum products in the United States, in the process of transmission to the terminal manufacturing industry, and ultimately borne by American consumers.
China's aluminum industry will meet various challenges with a higher level of science and technology and openness. China Nonferrous Metals Industry Association will make every effort to guide the high-quality development of China's aluminum industry. First, we must continue to promote the integration of scientific and technological innovation and the innovation and development of the aluminum industry, do a good job in energy saving and carbon reduction, and continue to make contributions to the global green and low-carbon development of China's aluminum industry. Second, we should actively support the development of emerging industries, and actively develop new aluminum alloy products needed by high-end equipment manufacturing industries such as new energy vehicles, energy storage batteries, robots, and low-altitude economy. Third, we must accelerate the upgrading and transformation of digital intelligence, improve the level of fine control management and production efficiency, and further improve the core competitiveness. Fourth, we should further strengthen exchanges and cooperation between the global aluminum industry, promote the global aluminum industry to achieve a higher level of international cooperation and sustainable development, and provide solid support for the development of the world economy.
