As many of you have already seen on the news the US Administration has decided to also impose tariffs based on Section 232 starting on 1 June 2018.
This includes now countries like EU, Canada and Mexico but excludes Argentina and Australia (see details here). This is likely to cause major disruptions in the global aluminium supply chain with negative implications mainly for US aluminium converters. According to some media reports the potential exemption of the 10% tariff for US companies (if they have no domestic supplier) is very difficult due to bureaucratic hurdles – thousands of applications are not or very slowly processed.
The official reaction from the President of the European Commission and Commissioner for Trade can be found here. It is likely that the announced counteractions will be implemented.