Intermoney | The US is wielding tariffs as a weapon to achieve certain concessions and show its ability to exert pressure in certain areas, but we should not overestimate them, as in some cases the products lack high added value. This is the case with aluminium and China. Chinese aluminium manufacturers will hardly be affected by the US plan to impose tariffs of 25% on steel and aluminium imports. The country’s aluminium manufacturers hardly export the metal: in 2023, the largest, Chalco, exported less than 1%; the second largest, Hongqiao, generated less than a tenth of 1% of North American revenues. In contrast, Canadian producers such as Alcoa accounted for 76% of total US aluminium imports in the first 10 months of 2024.
Chinese aluminium manufacturers to hardly be affected by US tariffs
