Aluminum Drops as Trump Moves to Narrow Levies on Metal Products

Aluminum fell along with other metals as traders reacted to a possible reduction in the scope of US import tariffs on some aluminum and steel products.

Prices fell as much as 2.7% on the London Metal Exchange after reports that President Donald Trump is planning to roll back some levies on concern that the duties are hurting consumers. The White House has communicated to companies that adjustments to levies on derivative metal products are in the works, according to a person familiar with the matter. Treasury Secretary Scott Bessent downplayed any potential rollback, however.