Hydro responds to US 25% aluminium tariffs
Key players in the aluminum industry continue to react to Trump’s plan to impose a 25% tariff on all steel and aluminum imports into the US. Anders Vindegg, Norsk Hydro commented: “Hydro supports free and fair trade. We are preparing for different scenarios, but it is too early to say just how the announcement from Trump and U.S. to increase tariffs on aluminium will affect our operations in U.S., Europe and other parts of the world long term.
“In the U.S., Hydro has close to 6,000 employees at more than 20 sites. Our plants deliver aluminium solutions to U.S. customers, mostly based on recycling aluminium scrap from customers or by recycling post consumer aluminium.
“Hydro also has extrusion plants in Mexico and Canada, as well as a part-owned primary aluminium plant in Canada, that might be directly affected by tariffs that are introduced in U.S.
“For our Norwegian operations, around 95 percent of the 1 million tonnes of primary aluminium that what we produce in Norway goes to the European market. 40 percent of the aluminium consumed in EU comes from Norway.
“Hydro’s export of aluminium from Europe to U.S. is limited. That does not mean that Hydro’s European operations will not be affected should tariffs be implemented on all aluminium into U.S., however, in terms of possible counter tariffs from EU and market situation going forward, it is also too early to say what will happen and how it will play out.
Aluminium is listed both in the U.S. and the EU as a critical material, as well as by NATO. Hydro follows developments closely and have a dialogue with relevant authorities, who are familiar with the issue.
