Latest news with #AluminumAssociation
CNN
6 days ago
- Business
- CNN
5 things to know for June 4: Tariffs, Navy ships, DOGE cuts, Violent crime prevention, Gender-affirming care
Last week, Homeland Security Secretary Kristi Noem posted on X that an undocumented migrant from Mexico had been arrested for allegedly sending a letter threatening to kill President Donald Trump. She also shared a picture of the man and a copy of the letter. However, at the time of her post, investigators were already looking into the possibility that the migrant had been set up by Demetric Scott, who was awaiting trial in a robbery and assault case in which the migrant was the victim. According to state prosecutors in Wisconsin, Scott admitted to framing the migrant and writing the letter. To date, neither Noem nor the DHS has removed the original posting about the arrest. As for the migrant, he faces a deportation hearing today. Here's what else you need to know to Get Up to Speed and On with Your Day. Get '5 Things' in your inbox If your day doesn't start until you're up to speed on the latest headlines, then let us introduce you to your new favorite morning fix. Sign up here for the '5 Things' newsletter. Early this morning, at 12:01 a.m. ET, US tariffs on steel and aluminum doubled to 50%. The jump in import taxes was the latest salvo in President Trump's trade war, one that was praised by the beleaguered American steel industry. However, the move has found detractors in other sectors that use the metals, and experts say Americans will eventually see higher prices on items such as cars, appliances and construction materials. 'We urge the administration to take a tailored approach that reserves high tariffs for bad actors — such as China — that flood the market and includes carve outs for proven partners — such as Canada,' the Aluminum Association said in a statement. 'Doing so will ensure the US economy has the access to the aluminum it needs to grow, while we work with the administration to increase domestic production.' Secretary of Defense Pete Hegseth has ordered the secretary of the Navy to rename the USNS Harvey Milk. A Navy veteran and gay rights activist, Milk was assassinated while serving on the San Francisco Board of Supervisors in 1978. At the time, he was one of the first openly gay politicians elected to office in the US. The USNS Harvey Milk is part of the John Lewis class of oiler ships that were named after civil rights leaders, which include the USNS Earl Warren, USNS Robert F. Kennedy, USNS Lucy Stone and USNS Sojourner Truth. It's not yet known if these ships will also be targeted for renaming, although such a move would be in line with Hegseth's aim of eliminating any diversity, equity and inclusion content in the Defense Department. Chief Pentagon spokesperson Sean Parnell said any decisions to rename other vessels would be announced when internal reviews were complete. 'Secretary Hegseth is committed to ensuring that the names attached to all DOD installations and assets are reflective of the Commander-in-Chief's priorities, our nation's history and the warrior ethos,' Parnell said. President Trump has asked Congress to sign off on some of the federal spending cuts that the Department of Government Efficiency sought to make unilaterally. The White House request totals $9.4 billion and targets both the Corporation for Public Broadcasting, which funds NPR and PBS, and the US Agency for International Development (USAID). The annual budget of the Corporation for Public Broadcasting is about $535 million — just $1.60 per taxpayer each year. And even though the US has long been the largest provider of humanitarian assistance globally, foreign aid accounts for less than 1% of the US budget. Congressional approval would codify the DOGE cuts into law so that they could not be reversed by the next administration and would help to insulate the Trump administration from legal challenges. On the campaign trail, President Trump falsely claimed that violent crime had skyrocketed in the US and that communities were less safe. Although the FBI reported that both violent and property crime had declined during the Biden administration, Trump continued to present a picture of unbridled crime in America. Yet since Trump returned to the White House, his administration has eliminated about $500 million in grants to organizations that bolster public safety, including many working to prevent gun violence. These grant cuts have prompted layoffs and reductions in state- and local-level services around the country, as well as legal proceedings against the Department of Justice. A federal judge has ordered the Trump administration to continue providing gender-affirming medication to transgender inmates in federal prisons. Earlier this year, President Trump told the Bureau of Prisons (BOP) to revise its policies to 'ensure that no Federal funds are expended for any medical procedure, treatment, or drug for the purpose of conforming an inmate's appearance to that of the opposite sex.' A group of transgender inmates challenged the order and US District Judge Royce Lamberth said they were likely to succeed in their claim that the agency had violated federal rulemaking procedures. 'Nothing in the thin record before the Court suggests that either the BOP or the President consciously took stock of — much less studied — the potentially debilitating effects that the new policies could have on transgender inmates before the implementing memoranda came into force,' Lamberth wrote. NBA head coach fired Tom Thibodeau was axed just days after the New York Knicks were eliminated from the playoffs at the hands of the Indiana Pacers. Copycat cookies?Snack brand giant Mondelēz is suing Aldi, claiming the grocery chain's store-brand cookies and crackers are packaged in a way that is 'likely to deceive and confuse' customers. 'It's back'Speaking of snacks, McDonald's is bringing back a long-requested, cult favorite food item. Congrats, Vanessa Kirby!See how the British actress revealed that she is pregnant during a red carpet event for her upcoming movie, 'Fantastic Four: First Steps.' 4,000That's an estimate of how many fatal unintentional drownings happen every year in the US — an average of 11 drowning deaths per day, the CDC reports. 'I'm sorry, but I just can't stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it.' — Tech billionaire Elon Musk on Trump's agenda bill, which the president is pressuring GOP senators to support. Check your local forecast here>>> Eau de mummyResearchers say the smell of ancient Egyptian mummified bodies give insight into the funeral processes of the past.
CNN
6 days ago
- Business
- CNN
5 things to know for June 4: Tariffs, Navy ships, DOGE cuts, Violent crime prevention, Gender-affirming care
Last week, Homeland Security Secretary Kristi Noem posted on X that an undocumented migrant from Mexico had been arrested for allegedly sending a letter threatening to kill President Donald Trump. She also shared a picture of the man and a copy of the letter. However, at the time of her post, investigators were already looking into the possibility that the migrant had been set up by Demetric Scott, who was awaiting trial in a robbery and assault case in which the migrant was the victim. According to state prosecutors in Wisconsin, Scott admitted to framing the migrant and writing the letter. To date, neither Noem nor the DHS has removed the original posting about the arrest. As for the migrant, he faces a deportation hearing today. Here's what else you need to know to Get Up to Speed and On with Your Day. Get '5 Things' in your inbox If your day doesn't start until you're up to speed on the latest headlines, then let us introduce you to your new favorite morning fix. Sign up here for the '5 Things' newsletter. Early this morning, at 12:01 a.m. ET, US tariffs on steel and aluminum doubled to 50%. The jump in import taxes was the latest salvo in President Trump's trade war, one that was praised by the beleaguered American steel industry. However, the move has found detractors in other sectors that use the metals, and experts say Americans will eventually see higher prices on items such as cars, appliances and construction materials. 'We urge the administration to take a tailored approach that reserves high tariffs for bad actors — such as China — that flood the market and includes carve outs for proven partners — such as Canada,' the Aluminum Association said in a statement. 'Doing so will ensure the US economy has the access to the aluminum it needs to grow, while we work with the administration to increase domestic production.' Secretary of Defense Pete Hegseth has ordered the secretary of the Navy to rename the USNS Harvey Milk. A Navy veteran and gay rights activist, Milk was assassinated while serving on the San Francisco Board of Supervisors in 1978. At the time, he was one of the first openly gay politicians elected to office in the US. The USNS Harvey Milk is part of the John Lewis class of oiler ships that were named after civil rights leaders, which include the USNS Earl Warren, USNS Robert F. Kennedy, USNS Lucy Stone and USNS Sojourner Truth. It's not yet known if these ships will also be targeted for renaming, although such a move would be in line with Hegseth's aim of eliminating any diversity, equity and inclusion content in the Defense Department. Chief Pentagon spokesperson Sean Parnell said any decisions to rename other vessels would be announced when internal reviews were complete. 'Secretary Hegseth is committed to ensuring that the names attached to all DOD installations and assets are reflective of the Commander-in-Chief's priorities, our nation's history and the warrior ethos,' Parnell said. President Trump has asked Congress to sign off on some of the federal spending cuts that the Department of Government Efficiency sought to make unilaterally. The White House request totals $9.4 billion and targets both the Corporation for Public Broadcasting, which funds NPR and PBS, and the US Agency for International Development (USAID). The annual budget of the Corporation for Public Broadcasting is about $535 million — just $1.60 per taxpayer each year. And even though the US has long been the largest provider of humanitarian assistance globally, foreign aid accounts for less than 1% of the US budget. Congressional approval would codify the DOGE cuts into law so that they could not be reversed by the next administration and would help to insulate the Trump administration from legal challenges. On the campaign trail, President Trump falsely claimed that violent crime had skyrocketed in the US and that communities were less safe. Although the FBI reported that both violent and property crime had declined during the Biden administration, Trump continued to present a picture of unbridled crime in America. Yet since Trump returned to the White House, his administration has eliminated about $500 million in grants to organizations that bolster public safety, including many working to prevent gun violence. These grant cuts have prompted layoffs and reductions in state- and local-level services around the country, as well as legal proceedings against the Department of Justice. A federal judge has ordered the Trump administration to continue providing gender-affirming medication to transgender inmates in federal prisons. Earlier this year, President Trump told the Bureau of Prisons (BOP) to revise its policies to 'ensure that no Federal funds are expended for any medical procedure, treatment, or drug for the purpose of conforming an inmate's appearance to that of the opposite sex.' A group of transgender inmates challenged the order and US District Judge Royce Lamberth said they were likely to succeed in their claim that the agency had violated federal rulemaking procedures. 'Nothing in the thin record before the Court suggests that either the BOP or the President consciously took stock of — much less studied — the potentially debilitating effects that the new policies could have on transgender inmates before the implementing memoranda came into force,' Lamberth wrote. NBA head coach fired Tom Thibodeau was axed just days after the New York Knicks were eliminated from the playoffs at the hands of the Indiana Pacers. Copycat cookies?Snack brand giant Mondelēz is suing Aldi, claiming the grocery chain's store-brand cookies and crackers are packaged in a way that is 'likely to deceive and confuse' customers. 'It's back'Speaking of snacks, McDonald's is bringing back a long-requested, cult favorite food item. Congrats, Vanessa Kirby!See how the British actress revealed that she is pregnant during a red carpet event for her upcoming movie, 'Fantastic Four: First Steps.' 4,000That's an estimate of how many fatal unintentional drownings happen every year in the US — an average of 11 drowning deaths per day, the CDC reports. 'I'm sorry, but I just can't stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it.' — Tech billionaire Elon Musk on Trump's agenda bill, which the president is pressuring GOP senators to support. Check your local forecast here>>> Eau de mummyResearchers say the smell of ancient Egyptian mummified bodies give insight into the funeral processes of the past.
Yahoo
02-06-2025
- Business
- Yahoo
Packaging manufacturers worried by 50% tariffs on steel, aluminum
This story was originally published on Packaging Dive. To receive daily news and insights, subscribe to our free daily Packaging Dive newsletter. Packaging manufacturing and metals trade groups so far are not in favor of the steel and aluminum tariff increases that President Donald Trump announced Friday. Trump unveiled plans to raise tariffs on steel and aluminum imports to 50%, up from the 25% that took effect in March. The doubled rates are slated to be implemented Wednesday. These tariffs, which are not affected by last week's court ruling blocking many levies, are intended to further protect the U.S. steel industry, Trump said Friday during a visit to a Pittsburgh steel factory to recognize Japan-based Nippon Steel's pending acquisition of U.S. Steel. But some groups say other U.S. businesses in metals supply chains wil be harmed, with these businesses — and consumers — likely suffering consequences such as increased costs. Association members 'strongly oppose any action' that would raise steel and aluminum tariffs to 50%, said Can Manufacturers Institute President Robert Budway, in a statement. 'Doubling the steel tariff will further increase the cost of canned goods at the grocery store. This cost is levied upon millions of American families relying on canned foods picked and packed by U.S. farmers, food producers, and can makers.' Following the 25% tariff announcement earlier this year, several metal packaging manufacturers, including Ball and Crown, expressed concern about increased costs from the duties and passing the hikes down to already price-stressed consumers. The duties also affect other metal packaging manufacturers, such as for caps and closures, foils and industrial steel drums. The Aluminum Association also said in an emailed statement Monday that it appreciates Trump's 'continued focus on strengthening the U.S. aluminum industry,' but these tariffs could have unintended consequences. Association members will continue working with the Trump administration to increase domestic production, said Matt Meenan, vice president of external affairs at the Aluminum Association. 'However, aluminum and steel are different.' 'Tariffs alone will not increase U.S. primary aluminum production nor support the $10 billion invested by the mid-and-downstream industry over the past decade,' Meenan said. 'We need significant new sources of reliable, low-cost electricity and an all-of-the-above policy approach to keep and collect more domestic aluminum scrap.' AA is in touch with the Trump administration to better understand the details of the levies, Meenan said. 'We urge the administration to take a tailored approach that reserves high tariffs for bad actors — such as China — that flood the market and includes carve outs for proven partners — such as Canada. Doing so will ensure the U.S. economy has the access to the aluminum it needs to grow while we work with the administration to increase domestic production.' CMI similarly seeks a more tailored approach, with Budway saying the stated plan 'plays into the hands of China and other foreign canned food producers, which are more than happy to undercut American farmers and food producers.' This risks U.S. food security, Budway said. 'We are asking President Trump for targeted tariff relief, on tin mill steel and aluminum produced by our allies and used in the production of cans that are made in America.' Budway further explained that domestic tin mill steel producers made a 'series of unfortunate decisions over the past eight years' that resulted in 'dramatic cuts that have decreased U.S. production of the specialized steel used in can making by 75%.' Therefore, domestic can makers and canned food producers now import nearly 80% of tin mill steel from foreign trade partners, he said. Meanwhile, foreign leaders are examining whether to implement countertariffs or other measures. The European Commission 'strongly' regrets the surprise doubling of tariffs, BBC reported. The commission said Monday that it will make a case this week for the United States to reduce or eliminate all announced tariffs, including those on steel and aluminum, Reuters reports. The EU previously imposed, and then suspended, countertariffs on $24 billion of U.S. imports due to the earlier metal duties. Recommended Reading Trump to increase steel, aluminum tariffs to 50% Sign in to access your portfolio
NBC News
01-04-2025
- Business
- NBC News
As retaliatory tariffs mount, recyclers worry what goes around, comes around
Other industry stakeholders are sounding similarly circumspect on the eve of what Trump has dubbed 'Liberation Day' on Wednesday. The Aluminum Association, for example, supports some but not all of the president's duties on the key metal. 'Increasing recycling by a few percentage points can drastically reduce our reliance on primary aluminum from foreign sources,' said Charles Johnson, CEO of the trade group, but he noted exports are crucial for the industry, too. About 20% of recycled steel and 37% of recycled aluminum are sold abroad, according to the Recycled Materials Association, or ReMA. That totaled about $26.7 billion in exports in 2023, the organization estimates, sales that foreign governments' retaliatory tariffs could choke off. In 2018, Trump's steel and aluminum tariffs excluded scrap metal, but ReMA said it hasn't been able to determine whether that will hold true this time around, including under his blanket duties on Mexico and Canada. Industry groups have voiced particular dismay that Trump picked a fight with Canada, a major U.S. supplier of both steel and aluminum. The country accounted for over 50% of aluminum imports and over 20% of steel and iron imports as of 2023, according to the U.S. Geological Survey. Given these interdependencies, ReMA says it's crucial that the $11 billion worth of recycled materials continues to trade freely within North America. 'Our materials move to where there's the most demand for them,' said Adam Shaffer, vice president of international trade and global affairs at ReMA. While the Aluminum Association has long supported curbing low-cost Chinese imports of 'unfairly traded aluminum,' it opposes tariffs on Canadian aluminum. Johnson said he was optimistic that Trump would consider certain exemptions, as he did in 2018. That would help the domestic industry continue to 'secure a reliable supply of primary metals for U.S. producers,' Johnson said. The United Steelworkers has asked the administration to avoid unnecessarily antagonizing one the industry's biggest trade partners. 'While our union absolutely views tariffs as one of many important tools we need to employ to rebalance our trade relationships, we urge a measured approach that both strengthens our manufacturing sector and accounts for our relationships with our allies, like Canada, who play by the rules,' the labor union said in a Feb. 10 statement. Michael E. Hoffman, CEO of the National Waste and Recycling Association, which represents mostly consumer goods recyclers, likewise said it's common for recycled materials to move relatively freely between Mexico, Canada and the U.S. 'It's a North American model,' he said. A White House spokesperson didn't respond to a request for comment. Even if tariffs succeed in making domestic steel and aluminum — both newly made and recycled supplies — more competitive with foreign counterparts, global retaliation threatens to destabilize commodity markets for these products. Higher prices at home are only good for American businesses if there's enough demand to support them, Shaffer pointed out. 'It would be harmful for both the recyclers [and] also for the environment if there's no market for these materials domestically,' he said. Some Trump administration officials have said their sweeping trade policy changes could cause some short-term pain on the way to reinvigorating American industry. But even within sectors the White House is looking to bolster, there's skepticism that the gamble will pay off. 'Some things make sense to be made overseas versus here,' said Lincoln, the Pennsylvania recycling plant owner. 'I don't see the infrastructure coming immediately.'
CNN
25-02-2025
- Business
- CNN
Trump's aluminum tariffs could cost 100,000 American jobs, US industry leader warns
President Donald Trump's plan to impose a 25% tariff on all imported aluminum could cost 100,000 American jobs, the CEO of one of the largest US aluminum makers warned on Tuesday. The new tariff rate, a 15 percentage point increase from prior levels that doesn't permit any exceptions or exemptions, is set to go into effect next month. It's part of Trump's aggressive strategy to beef up domestic manufacturing — but risks sparking a global trade war. The tariffs would 'destroy about 20,000 direct US aluminum industry jobs and could result in 80,000 indirect jobs being eliminated in the US,' said William Oplinger, CEO of Alcoa, speaking at the BMO Global Metals and Mining conference. 'It's bad for the US,' he added. In total, the aluminum industry directly employs 164,000 workers in the US and indirectly employs an additional 272,000 workers within industries such as mining, construction and manufacturing, according to the Aluminum Association. Though Alcoa is headquartered in Pittsburgh, a significant share of Alcoa's aluminum production is located in Canada and then shipped to the US, Oplinger said. That, in addition to the negative consequences US consumers could face from the aluminum tariff, is why he said the company is lobbying the Trump administration to 'at a minimum' enact an exemption on Canadian metal exports to the US, allowing for two-thirds to enter the country duty-free. Coca-Cola CEO James Quincey said this month the company is preparing to package more of its products in plastic and glass as opposed to aluminum to avoid the higher input costs if the tariffs go into effect. If that shift happens, it could lead to job losses at canning facilities Coca-Cola works with. 'International companies have long undercut American aluminum production by flooding the US market with cheap imports from countries like Australia, Brazil and Canada,' White House spokesman Kush Desai told CNN. 'Although disruptive to these companies' business models, President Trump's tariffs are necessary to safeguard America's national security and economic interests by onshoring critical aluminum production.' Canada, the top source of aluminum imported by the US, shipped $11 billion worth of raw aluminum and goods containing a significant amount of aluminum to the US last year, according to Commerce Department data. In total, the US imported $27 billion worth of aluminum last year, which also came from trading partners like China, Mexico, the United Arab Emirates and South Korea. Meanwhile, the US exported $14 billion worth of aluminum across the globe. The US largely relies on foreign aluminum because countries like Canada have relatively lower energy costs to produce it, according to a 2022 report published by the nonpartisan Congressional Research Service. Alcoa estimates that a 25% tariff on Canadian aluminum shipped to the US would cost US customers an additional $1.5 billion to $2 billion annually, Oplinger said on the company's earnings call last month. Generally, tariffs imposed on other nations' imports can negatively impact domestic consumers, resulting in higher prices for the goods. An additional concern is that other countries could retaliate against the US by imposing tariffs on its exports. The reduction in demand could force companies to lay off workers. For instance, when the Trump administration put tariffs of 25% on steel and 10% on aluminum in place in 2018, it briefly cut imports and increased domestic production. But many customers of imported steel and aluminum still found it necessary to import those goods from lower-priced producers elsewhere. Those actions also ignited a trade war that hit American goods with retaliatory tariffs that raised prices on other items for consumers. Bernd Lange, chair of the European Parliament's trade committee, recently said it would respond to pending aluminum and steel tariffs by levying tariffs on American goods including motorcycles, jeans, peanut butter, bourbon and whiskey. Alcoa has some untapped domestic production capacity, but it's 'very old, very inefficient capacity that has not been run in a number of years,' Oplinger said. Nevertheless, the company will be assessing whether it makes financial sense to invest in upgrading the domestic facilities to avoid tariffs. But it's a tough call, said Oplinger, who became Alcoa's CEO in 2023. 'One of the issues around the uncertainty of the tariffs is it's very hard to make an investment decision even on something like a restart without knowing how long the tariffs will last.' 'More broadly, the administration has asked us, are we likely to reshore aluminum production in the United States? We make decisions around aluminum production that are a horizon of 20 to 40 years,' he said. 'We would not be making an investment in the United States based on a tariff structure that could be in place for a much shorter period of time.' CNN's Alejandra Jaramillo, Chris Isidore and David Goldman contributed reporting.
