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Stock impact report

Costs, chaos rising as metal tariffs pile up with no end in sight [BNN Bloomberg (Canada)]

Alcoa Corporation (AA) 
Last alcoa corporation earnings: 4/22 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
Company Research Source: BNN Bloomberg
U.S. President Donald Trump imposed 25 per cent tariffs on Canadian steel and aluminum on March 12, while also raising metal tariffs for other countries. While it's still not clear how much higher the tariffs will push consumer prices, Alcoa Corp. reported that its last quarter saw a US$20 million hit from tariffs, and that they could lead to a further US$90 million in additional costs in its second quarter. The Pittsburg-based company, which is also one of Canada's largest aluminum producers, says higher prices are expected to offset some, but not all of those costs. Catherine Cobden, head of the Canadian Steel Producers Association, says steel producers in Canada haven't been able to pass on the higher costs to its U.S. customers, causing companies to start to cut back on production and lay off workers. She says the tariffs are causing widespread disruption and uncertainty that not only affects current operations but orders and investments. “There is a significant amount Show less Read more
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