President Donald Trump’s planned tariffs will allow Century Aluminum to invest $100 million in new technology and add 200 jobs, its CEO said Friday.
“We are immediately going to go and reopen the shut production plant in Hawesville, Kentucky,” he told Maria Bartiromo on “Mornings with Maria” on FOX Business. “We think this action is a long time in coming.”
President Trump’s plan would impose a 10% tariff on aluminum, but imports will still be in high demand, according to Bless.
Currently, the U.S. uses about 6 million tons of primary aluminum each year, according to Bless, adding that the U.S. industry is only able to supply 700,000 tons.
“We can sell all of that 100 times over,” he said. “After this action is implemented, this country is still going to need millions and millions and millions of imports of primary aluminum. Those imports aren’t going anywhere.”
The impact on beer and soda companies, which ship much of their products in aluminum cans, will be minimal, according to Bless.
“Do we really think that the average consumer is going to consume less beer or less soda?” he asked. “That penny and a half – do we really think that’s going to cause price destruction?”