0932 ET - President Trump's reintroduced Section 232 steel and aluminum tariffs, which cover all "melted and poured" imports of those metals from anywhere in the world, are expected to be met with retaliation from major metal producers like the EU, says ING Economics in a note. "Retaliation is on, and it's going to get nasty," says the firm, adding that when Trump issued metal tariffs during his first term, it didn't help stop the trend of dropping steel and aluminum production within U.S. borders. Primary aluminum, in particular, has been decimated in the U.S. over the past two decades, with now only four smelters left producing roughly 680,000 metric tons of aluminum last year. By comparison, China produced 43 million tons, says ING, citing data from Harbor Intelligence. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 09:32 ET (14:32 GMT)
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