Alcoa CEO Warns Tariffs Will Destroy Metal Demand as Prices Rise

The head of the largest US aluminum producer warns import tariffs will destroy demand for American metal, contrary to the Trump administration’s claim duties will revitalize the domestic industry.

Prices now are significantly higher in the US due to President Donald Trump’s 50% tariff on aluminum imports, Alcoa Corp.Chief Executive Officer Bill Oplinger said in an interview Monday. Without changes, American customers or shareholders ultimately will pay that higher price, he said.

Oplinger’s comments are an escalation of his remarks in January when he said tariffs would have a “quieting effect” on demand. Trump set ...