Trump's Not Done on Trade as Goldman Says Aluminum's Up Next
- Tariff is ‘more likely than not to be imposed,’ bank forecasts
- LME aluminum prices have advanced more than 20% in past year
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The Trump administration will probably impose a trade tariff on aluminum, according to Goldman Sachs Group Inc., which warned that while the exact form any new levy takes is hard to predict, it may increase U.S. prices of the metal used in everything from cars to cans.
“We think a trade tariff on aluminum is more likely than not to be imposed,” analysts including Jeffrey Currie said in a report. “The situation is fluid and there is still great uncertainty associated with the tariff rate, the targeted countries, and potential retaliations from America’s trading partners.”