Beginning March 10, 2023, the U.S. takes action to support Ukraine and hold Russia accountable. Tariff hikes are now 200% on Russian aluminum exports, including derivative products, and, beginning on April 10, 2023, aluminum articles from other countries that used any aluminum from Russia will also be tariffed at 200%, unless those third countries also impose tariffs on imported Russian aluminum.
The administration noted that even though Russian aluminum exports to the U.S. have declined since Section 232 aluminum tariffs began in 2018, it’s still the fifth-largest source of imported aluminum. Responsively, importers have moved away from Russian aluminum due to past sanctions already, said the Aluminum Association. “The aluminum industry stands united in support of any and all efforts deemed necessary by the U.S. government and its allies to address this ongoing crisis. This is a global security and humanitarian disaster that goes far beyond the interests of any single industry. We will work closely with our membership to help ensure compliance with these newly announced sanctions,” the group said.
The U.S. also will increase the tariffs on certain Russian products, previously subject to a 35% tariff, to 70%—and will increase non-most-favored-nation tariffs to 35% on some minerals and chemicals from Russia. The annex that lays out which products will have 35% tariffs, and which will have 70% tariffs has not been issued yet. The changes from 35% to 70% and up to 35% will take effect April 1st. For more information reach out to Mohawk Global Trade Advisors.
By Clarissa Chiclana