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Canadian Metal Producers May Avoid The Obligation Of The Tariff
Donald Trump has re-launched the tariff on Canada's aluminum shipments, but Canadian metal producers may avoid the obligation of the tariff.
Yazar: Tom Roberts
Yayınlanma: 9 Ağustos 2020 19:50
Güncellenme: 7 Kasım 2024 13:19
Canadian Metal Producers May Avoid The Obligation Of The Tariff
Donald Trump has re-launched the tariff on Canada's aluminum shipments, but Canadian metal producers may avoid the obligation of the tariff. After the announcement that the tariff was only valid for raw metals, this announcement paved the way for US companies to import some aluminum products produced in Canada. For example, parts going to auto parts, jet bodies and machinery were exempt from customs duty. Many analysts expect the economy to break through. This means that the demand for value-added items is only expected to increase in the coming months. This could be a lifesaving development for the Canadian industry, which supplies approximately 50 percent of the aluminum used in America. Although demand for final products has decreased during the pandemic period, demand may rise again as car factories and other businesses return to full capacity. "I would say that Canadian producers Alcoa and Rio Tinto are likely to turn to all sorts of value-added products instead of primary nuggets to avoid 'tax'," said Andrew Cosgrove, senior analyst at Bloomberg Intelligence.İLGİLİ HABERLER
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