Alcoa CEO Says Trump Tariffs Force a Pause for Canada Growth Projects
(Bloomberg) – Stored US metal manufacturer Alcoa Corp., President Donald Trump feels the pinch of tariffs and was forced to pause all ongoing growth projects in Canada.
If the Levis remain in place, the President of the Executive Officer Bill Oplinger warns that the American manufacturer may have to return to the Canadian government for help.
For now, he said he was waiting until August 1, the last date of negotiation for a new economic and security agreement between Canada and the United States.
“Quebec’s profitability is seriously affected, Opt Oplinger said in his Friday interview. “The longer this, the more damage to the competitiveness of Quebec assets. And the Canadian government understands it.”
Alcoa’s challenges show how we reach through aluminum, which aims to increase American manufacturing, damage the largest US manufacturer from soda boxes to cars.
Although Pittsburgh -based Alcoa has a lot of domestic production, it also depends on the operations in Canada to meet the demand. In Quebec, the company has three melting and casting facilities that largely feed American customers. The company is often one of the largest US suppliers, but now it is re -guiding loads due to taxes.
“We do everything we can to send the targeted tones to other parts of the world,” Oplinger said.
Oplinger’s reviews follow a earning report on Wednesday, which reveals that Alcoa pays costs for $ 115 million in the second quarter. If the tariffs remain in place, the company can search for lobbying to support both Canada’s federal government and the Quebec government.
The Trump administration is among the many metal manufacturers who visited the trade turmoil after increasing the US import tariffs on steel and aluminum – 25% in March and then to 50% in June. Rio Tinto PLC said on Wednesday that Canadian aluminum produced more than $ 300 million in the first half due to tariffs. The company also said in June that the local media applied recruitment ice cream in the postponement of Quebec.
Oplinger, Alcoa’s executives in Quebec’teki “Capital investments look very hard,” he said. “The plans we have for the growth projects in Quebec are waiting until you get a decision on tariffs.”
Approximately 40% of the metal of Alcoa produced in Quebec can be directed to non -US customers in Europe and elsewhere in Canada, but the demand abroad has prevented the expectations of weakened demands to completely re -guide manufacturers’ posts.
If Trump follows Brazil’s 50% tariff placement threats to Brazil, he warned that alumin resources may encounter more tariff costs for Alcoa to feed US plants. Oplinger, now in the expectation of these possible taxes, said he decided whether there will be a source as a preventive anti -alumina outside Brazil.
He was appointed as CEO in 2023 after he worked as the Alcoa manager, the chief operation officer of the company and the finance manager.
On Friday, “I have been with Alcoa for more than 25 years, and I think this is the most extreme trade uncertainty we have seen,” he said.
-Help from Mathieu Dion.
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