US plans 200% tariffs on Russian aluminum as soon as this week: report (NYSE:AA)

America is preparing for impose a 200% tariff on Russian-made aluminum as early as this week, Bloomberg reported Monday.

The United States is targeting Russian metal because the country has been dumping aluminum in the US market and harm US companies, as well as its role is launching the war in Ukraine, according to the report.

Russia is the world’s second largest producer of the metal and Russian-supplied aluminum traditionally accounts for ~10% of total US imports.

Potentially relevant stocks include Alcoa (NYSE:AA), Century Aluminum (CENX), Constellium (CSTM) and Arconic (ARNC).

ETFs: (NYSEARCA:JJU)

Shipper AP Moller-Maersk said last week that the United States had begun halting imports of aluminum products suspected of being made using forced labor from China’s Xinjiang region.