Alcoa braces for USD 90 million costs due to US tariff – is it a sign that domestic businesses are not immune to the impact of tariff?
Alcoa, the Pittsburgh-based aluminium giant, is preparing to absorb up to USD 90 million costs this quarter (Q2) as a result of tariff impact. Yes, you read that correctly! Despite being a US-headquartered aluminium manufacturer, the company is preparing for the financial hit from these tariffs. And it doesn’t end there. Alcoa is expecting this steep cost after posting a strong performance in Q1, with a double net income of USD 548 million.
The truth is Alcoa has already experienced a cost of USD 20 million since the tariff being implemented by the US government. Why? Because Alcoa’s 70 per cent of the aluminium production takes place in Canada, which is now subject to Donald Trump’s 25 per cent import duty.
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