Century Applauds President Trump’s Aluminum Tariff Increase

Rhea-AI Summary

Century Aluminum (NASDAQ: CENX) has welcomed President Trump's decision to increase Section 232 tariffs on foreign primary aluminum imports from 25% to 50%. The announcement, made in Pittsburgh, aims to protect domestic metal production crucial for national security. In response to these supportive policies, Century Aluminum, the largest domestic primary aluminum producer in the U.S., has announced plans to construct the first new aluminum smelter in the country in 50 years and double its domestic production capacity. CEO Jesse Gary expressed gratitude for the administration's commitment to supporting U.S. aluminum production and American jobs.

Positive

• Increase in aluminum tariffs from 25% to 50% provides stronger protection against foreign competition
• Company announces plans to build first new U.S. aluminum smelter in 50 years
• Plans to double domestic production capacity
• Enhanced competitive position as largest domestic primary aluminum producer

Negative

• Heavy dependence on government trade policies for competitive advantage
• Potential exposure to policy changes or trade retaliation
• Higher tariffs may increase input costs for downstream manufacturers

CHICAGO, June 02, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) applauds President Trump’s unwavering defense of the nation’s domestic production of critical metals by increasing aluminum tariffs to 50 percent.

President Trump’s action, announced in Pittsburgh on Friday, increases the Section 232 tariffs on foreign primary aluminum imports from 25 percent to 50 percent. This bold step safeguards the supply of metals critical for national security, while encouraging investments in U.S. job creation. With the support of President Trump’s policies, Century Aluminum has announced that it will build the first new aluminum smelter to be built in the U.S. in 50 years and double domestic production.

“President Trump has stood firm in his support of U.S. aluminum production and American jobs,” said Jesse Gary, President and CEO. “We thank President Trump for again putting America first and supporting the resurgence of the domestic aluminum industry.”

Century Aluminum is the largest domestic producer of primary aluminum in the United States.

About Century Aluminum

Century Aluminum is an integrated producer of bauxite, alumina, and primary aluminum products. Century is the largest producer of primary aluminum in the United States, and also operates production facilities in Iceland, the Netherlands and Jamaica. Visit www.centuryaluminum.com for more information.

Cautionary Statement

This press release and statements made by Century Aluminum Company management on the quarterly conference call contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to the "safe harbor" created by section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are statements about future events and are based on our current expectations. These forward-looking statements may be identified by the words "believe," "expect," "hope," "target," "anticipate," "intend," "plan," "seek," "estimate," "potential," "project," "scheduled," "forecast" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," "might," or "may."

Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and in other filings made with the Securities and Exchange Commission. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause actual results or events to differ from those anticipated, estimated or intended. Many of these factors are beyond our ability to control or predict. Given these uncertainties, the reader is cautioned not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

INVESTOR CONTACT
Ryan Crawford
312-696-3132

MEDIA CONTACT
Tawn Earnest
614-698-6351

Source: Century Aluminum Company

FAQ

What is the new aluminum tariff rate announced by President Trump for Century Aluminum (CENX)?

President Trump increased the Section 232 tariffs on foreign primary aluminum imports from 25% to 50%.

What expansion plans did Century Aluminum (CENX) announce in response to the tariff increase?

Century Aluminum announced plans to build the first new aluminum smelter in the U.S. in 50 years and double its domestic production.

Who is the CEO of Century Aluminum (CENX)?

Jesse Gary is the President and CEO of Century Aluminum.

What is Century Aluminum's (CENX) position in the U.S. aluminum market?

Century Aluminum is the largest domestic producer of primary aluminum in the United States.

How will the increased aluminum tariffs affect Century Aluminum's (CENX) business?

The increased tariffs are expected to protect domestic production, encourage investments, and support job creation in the U.S. aluminum industry.