Washington - Saba:
Aluminum prices declined in trading on Wednesday as U.S. President Donald Trump's decision to double tariffs on steel and aluminum imports came into effect.
By 14:40 Moscow time, aluminum futures had fallen by 0.10% to $2,463.50 per metric ton. Earlier in the session, aluminum had traded at $2,432.50 per metric ton.
Earlier on Wednesday, President Trump's decision to impose doubled tariffs on steel and aluminum imports was implemented.
The new measure raises U.S. tariffs on imported iron and steel from 25% to 50% of the import value, as Trump seeks to address what he calls a trade imbalance while bolstering domestic steel and aluminum production in the United States.
Meanwhile, steel and aluminum products imported from Britain will be exempt from the increase and will remain subject to a 25% tariff, according to a White House announcement, in light of the recent trade agreement reached between Washington and London.
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