Century Aluminum Company (NASDAQ: CENX) is applauding President Donald Trump’s new executive order that will close valuation loopholes that importers have been using to avoid the President’s tariffs on steel and aluminium, levelling the playing field for American manufacturers. The Section 232 tariff on primary aluminium is unchanged and remains at 50 per cent.

Importers had been abusing valuation loopholes to reduce their liability under the President’s steel and aluminium tariffs. In some instances, importers declared only the value of raw steel and aluminium while excluding value added through processing, thereby lowering the tariff owed and disadvantaging domestic manufacturers. The order clarifies that importers must declare the full value of covered products, promoting consistent enforcement and fair competition across the aluminium supply chain.

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“Century Aluminum strongly supports President Trump’s executive order, which defends American manufacturing and holds foreign companies accountable for unfair practices by closing loopholes that importers had previously tried to use to cheat the system,” said Century CEO Jesse Gary. “With the 50 per cent Section 232 tariffs on primary aluminium still fully in force with no exemptions or exceptions, today’s executive order reinforces that foreign actors will no longer be allowed to game the system at the expense of Americans.

“Century Aluminum is proof that President Trump’s policies are working. Since President Trump reinforced Section 232 last year, with no exemptions or exceptions, we have expanded US aluminium production by 10 per cent and committed billions to new capacity that will double US production and create thousands of new American jobs. Century is investing for the long term and will continue to lead the revitalisation of American aluminium production.”

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Note: This article has been issued by Century Aluminum and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.