US may impose 200% tariffs on Russian aluminium this week

According to our report from the United States, the White House is ready to slap a 200 per cent tariff on aluminium produced in Russia as early as this week in order to maintain pressure on Russia as the Ukraine-Russia geopolitical crisis crossed its first anniversary.

The geopolitical crisis has created an enormous impact globally, propelling energy prices and, as a result, denting the manufacturing sector's production.

According to our source, the decision has been under consideration for months, who wanted to remain anonymous while speaking about internal discussions. Russian aluminium metal is also being targeted by the US due to the perception that Russia is dumping aluminium on the US market, which is injuring US companies.

A tariff of this magnitude would effectively end US metal imports from Russia. Russia is one of the world's leading aluminium producers (ex-China), and Russian-supplied aluminium accounts for around 10 per cent of total US imports.