(Alcoa)
Alcoa Corp., the largest U.S. aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter, showing how President Donald Trump’s trade agenda has affected the industry.
The company redirected Canadian-produced aluminum to customers outside the U.S. to mitigate additional tariff costs, it said July 16 while reporting earnings that beat analyst estimates.
Alcoa shares rose as much as 6.4% July 17 in New York, the biggest intraday increase since June 26.
Metal producers are navigating the trade tumult Trump created after raising import tariffs on steel and aluminum, first to 25% in March and then to 50% in June, in an effort to revive domestic production.
Alcoa’s latest toll from tariffs is about six times more than in the first quarter when the Pittsburgh-based firm said the levies, which were then 25%, had cost it an additional $20 million. Mining giant Rio Tinto Group also revealed July 16 that its Canada-made aluminum generated costs of more than $300 million in the first half due to the tariffs.
#Alcoa has released its results for the second quarter 2025.
Full report: https://t.co/Nol0706ZEv
Conference call stream to follow: https://t.co/HNVZBydXab pic.twitter.com/DN0vSpAd7z— Alcoa (@Alcoa) July 16, 2025
Alcoa has had extensive conversations with administrations on both sides of the border, including directly with Trump, Alcoa CEO William Oplinger said on a call following the earnings report.
Oplinger has repeatedly warned U.S. customers will bear the costs of tariffs on aluminum producers.
“While we’re not particularly thrilled with the tariffs,” he said, “our customers are paying significantly higher for aluminum in the United States than anywhere else in the world.”