The Chinese Government declared that starting on April 2, the 25% import tariff on aluminum scrap would be imposed.
Although the Chinese Government’s initial announcement on March 23 was to give 30 days for the U.S. and China to strike a deal before implementing the tariffs, it would appear that after receiving no indication from the U.S. Government that the 232 tariffs on aluminum and steel imports into the United States would be lifted, the Chinese government is going ahead with its tariff plan.
ISRI remains concerned about the impact of the nearly $1.2 billion worth of U.S. exports to China, which is a significant contributor to the U.S. scrap trade surplus with China. We are reviewing options for a response and reaching out to the Chinese Embassy in Washington to get clarity on the tariff imposition. We believe through our contacts, for example, that the tariff will apply to shipments already en route, but we hope to get a confirmation of that from the Chinese Government.
Please contact Adina Renee Adler if you have any questions.