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Century Aluminum Company Applauds Biden Administration Decision To Triple Chinese Aluminum Tariffs
CHICAGO, May 14, 2024 (GLOBE NEWSWIRE) -- President Biden today announced that his administration would triple existing tariffs on Chinese aluminum imports
About this update from Century Aluminum Company
[{"type":"text","content":"CHICAGO, May 14, 2024 (GLOBE NEWSWIRE) -- President Biden today announced that his administration would triple existing tariffs on Chinese aluminum imports pursuant to Section 301 of the Trade Act of 1974. Today’s action provides a clear and strong response to China’s unfair trade policies and will help to put a stop to China’s continuing build-up of overcapacity and non-market pricing actions. Jesse Gary, Century's (NASDAQ: CENX) President and Chief Executive Officer, who attended the White House event announcing the move, praised the President's action: \"Today’s actions are critical for the U.S. aluminum industry. President Biden's decisive leadership on Sec. 301 tariffs and to invest in the resurgence of U.S. manufacturing, shows this Administration’s commitment to U.S. primary aluminum production.\" \"Thanks to the President's leadership, Century is planning to build a new greenfield facility that will double existing domestic capacity. The smelter would not only be the first new American aluminum smelter in 45 years, but also one of the “greenest” smelters in the world, powered with cutting edge technology and renewable energy. This Administration announced a $500 million grant which will help to facilitate this investment in our future.” Speaking at the White House event, Mr. Gary said, \"From electric vehicles to missiles, aluminum is a key component in most aspects of our modern economy and critical for our defense.” He continued, “For my company, our workers, and others across this country, unfair trade is something that is very real. Today’s announcement creates the climate for business to succeed, investments to be made, jobs to be created, and workers to earn a good wage.” About Century Aluminum Company Century Aluminum is an integrated producer of bauxite, alumina, and primary aluminum products. Century is the largest producer of primary aluminum in the United States and also operates production facilities in Iceland, the Netherlands and Jamaica. Visit www.centuryaluminum.com for more information. Cautionary Statement This press release and statements made by Century Aluminum Company management contain \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to the \"safe harbor\" created by section 27A of the Securities Act of 1933, as amended (th...