The US Department of Commerce recently declared that punitive tariffs will be imposed on producers of rolled aluminium from 18 countries. The tariffs mainly go from a few percent to up to 50%.
However, for Hydro Aluminum Rolled Products GmbH, a wholly-owned German subsidiary of Norsk Hydro, the rate will be 352.71%.
As per one Hydro’s official: “Hydro's German factories are subject to sky-high penalties - Unreasonable and unfounded.”
The reason for the punitive duty is that Hydro and the other companies are accused of dumping aluminium for billions of Norwegian kroner in the American market.
Halvor Molland, Senior Vice-President Communication, Norsk Hydro, said: “We believe this is an unreasonable and unfounded decision.”
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