In 2017, the
U.S. imported approximately 7,000 tons of aluminum and exported nearly 3,000 tons for a net import of 4,000 tons. As the table nearby shows, U.S. aluminum production amounted to less than 1,000 tons in the same period.
Bulk commodities like aluminum ingots, bars, sheets, and scrap (from beverage cans, etc.) are traded on the world markets at competitive prices. Even if the U.S. were getting all its imported aluminum from large producers other than Canada, the cost would hardly be any different. Any quick expansion of its own production would not be possible either.
Therefore:
Cui Bono – Who’s getting the benefit of any import duty?
But now, Canada is really getting serious in reciprocating with a proposed duty on – would you have guessed it – U.S. whiskey.
Whiskey
Yes, this trade spat is getting to be really serious now. Aluminum or steel are one thing but whisk(e)y, that’s where the fun stops! That ought to be a major blow to the shine distillers in the hills of Tennessee or the flatlands of Indiana. Of course, Scotland is the biggest producer of whiskey in the world, and has been for at least 100 years ([url=https://www.whiskyinvestdirect.com/about-whisky/world-whiskies]https://www.whiskyinvestdirect.com/about-whisky/world-whiskies[/url] ).
With the U.S. announcing substantial duties on imports of steel and aluminum products from Canada, Europe, and Mexico, some nerves are getting a bit frayed.
Counter-duties on similar and other goods imported from the U.S. are being bandied about.
This nascent trade war may just be a negotiating tactic in the (currently on hold ?) negotiations of the North American Free Trade Agreement (NAFTA) and the like. Still, they are bound to increase prices to consumers on either side of each issue. The only winners of such new levies would be the respective governments that levy such new “import taxes.” Let’s look at two items on the list of duties and counter-veiling duties.
Aluminum: Let’s look at the worldwide aluminum production in 2016
