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Almonty Industries Confirms No Impact from Recent U.S. Executive Order on Reciprocal Tariffs
TORONTO / Apr 04, 2025 / Business Wire / Almonty Industries Inc. (TSX: AII) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI) (“Almonty” or the “Company”), a leading g
About this update from Almonty Industries Inc.
[{"type":"text","content":"TORONTO / Apr 04, 2025 / Business Wire / Almonty Industries Inc. (TSX: AII) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI) (“Almonty” or the “Company”), a leading global producer of tungsten concentrate, is pleased to confirm that, based on currently available information, its operations and product exports are not affected by the recent Executive Order issued by the United States government regarding reciprocal tariffs on select imports. The Executive Order published on April 2, 2025, outlines new tariff measures targeting specific Harmonized Tariff Schedule (HTS) codes. Following a detailed review of Annex I and Annex II of the order titled “Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and Persistent Annual United States Goods Trade Deficits,” we can confirm that Almonty's tungsten ore, concentrates, oxide, and related materials are not subject to the newly imposed tariffs. These products — including those classified under HTS codes 2611.00.30, 2611.00.60, and 2825.90.30 — are explicitly excluded from the action, as listed in Annex II. This confirmation not only ensures the continued stability of Almonty’s trade flows but also highlights the Company’s role in supporting a secure and diversified supply chain to the United States. It underscores the strategic importance of tungsten, particularly in advancing U.S. interests in national defense, critical manufacturing, and supply chain resilience. Tungsten has long been recognized as a critical mineral by the U.S. government, with key applications across aerospace, defense systems, high-performance electronics, and clean energy technologies. Almonty remains firmly committed to developing and maintaining a reliable, western-based supply chain for tungsten, working in close collaboration with its partners and stakeholders to meet the growing demand for secure and sustainable access to critical minerals for the U.S. and its allies. Lewis Black, President & CEO of Almonty, commented: “We are thrilled with this confirmation, which reinforces Almonty's position as a key player in the global tungsten supply chain. The explicit exclusion of our products from the new tariff measures highlights the strategic importance of tungsten in supporting the national security, industrial independence, and resilient supply chains of American industry....