Aluminum Association supports US – EU efforts to address overcapacity
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Tom Dobbins, president & CEO of the Aluminum Association, released the following statement in response to the joint commitment by the US and EU to address overcapacity in the global aluminium market: “This is an extremely important step toward a better trading relationship with a vital ally while addressing systemic aluminium overcapacity. We appreciate the work by Commerce Secretary Raimondo and Ambassador Tai to prioritise this issue. Massive state subsidies for aluminium production – especially in China – have distorted markets and made it difficult for many aluminium producers to compete on a level playing field for too long. It is time for nations committed to a market and rules-based global trading system to come together to combat this shared challenge. Any final agreement with Europe should emphasise strong trade enforcement based a common set of rules. We look forward to supporting this process and are hopeful that the ultimate outcome will both address global aluminium overcapacity and help normalise the US-EU trading relationship.”
The association has advocated for a strong, multilateral effort to address global aluminum excess capacity driven by overproduction in China. As reflected in a recent report by the Organisation for Economic Cooperation and Development (OECD), three years of Section 232 tariffs have done little to change Chinese industrial practices. The Aluminum Association will work with its global partners to keep these issues front and centre in advance of the G7 summit this June.