America's renowned aluminium smelter, Century Aluminium, supported President Biden's decision to levy a 200 per cent ancillary tariff on imported aluminium from Russia during last week's break. The President and CEO of Century Aluminium, Jesse Gary, clarified his preference with a supportive statement.
The CEO could not refrain from praising the Biden administration openly in the press release adhering to the matter.
"Thank you to the Biden Administration for inviting Century to the White House on this important occasion. As we have stated before, Century Aluminum fully supports the Biden administration's efforts to decarbonise industrial production through innovation," Gary spoke.
He then went on to signify the utility of an independent, robust, plus domestic aluminium industry operating with indigenous procurements.
"To move forward in continuing to support a viable domestic aluminium industry, Century is committed to maintaining critical manufacturing capabilities in the U.S. and to protecting American jobs, and doing so sustainably while also greening the economy," Gary added.
To illustrate his theory, Jesse Gary went on to explain: "A thriving domestic aluminium market is essential to today's U.S. national security, economic, and climate objectives. Increased domestic manufacturing of aluminium makes our country safer, more economically independent, and more sustainable, and will strengthen our domestic supply chain and put our country on a steadier path to a green future."
The Joe Biden Administration imposed an added 200 per cent import tariff on Russian aluminium at the end of last month as a portion of the packaging sanctions lodged against Russia. These measures were necessary to condemn Russia for its unscrupulous invasion of Ukraine almost one year back without any remorse that it might have been directly affecting the international trade market. Moreover, up until now, Russia was facing only minor restrictions in the global materials trade market.
In conclusion, the CEO remarked: "In order to effectively advance these growth and decarbonisation efforts, the federal investment will be critical. We support the administration's commitment to these shared goals and have been working closely with our partners in this area."
These newly introduced tariffs would be initiated near the end of March alongside the tariffs imposed by the Trump Administration under Section 232 of the Trade Expansion Act of 1962. The Biden Administration also notified that the administrative measure, on one hand, penalises Russia and, on the other hand, secures the fate of American employees.
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