The US is preparing to impose a 200% tariff on Russian-made aluminium as soon as this week to keep pressure on Moscow as the one-year anniversary of the invasion of Ukraine nears, according to people familiar with the situation.
The move has been contemplated for months, said the people, who asked not to be identified discussing internal deliberations. The people added that the US is also targeting the Russian metal because Moscow has been dumping aluminum on the US market and harming American companies.
Such steep tariffs would effectively end US imports of the metal from Russia. Russia is the world’s second-largest producer of the metal and Russian-supplied aluminum traditionally accounts for about 10% of total US imports.
The latest escalation of pressure on Moscow comes after Washington has unleashed unprecedented levels of sanctions to punish and isolate President Vladimir Putin’s government.
The White House National Security Council didn’t immediately respond to requests for comment.