U.S. steel and aluminum tariffs doubled, industry executives warn: demand will be hit
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U.S. President Trump raised aluminum import tariffs to 50%, prompting industry executives to warn of a potential decline in demand. Executives at Novelis stated that this policy will burden consumers and affect demand, especially at the current tariff levels. Although Trump claims that this move aims to protect domestic manufacturers, many businesses are concerned that high tariffs will increase consumer purchasing costs, leading to greater market volatility. Related contract prices rose to their highest level since 2013 on the New York Commodity Exchange
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