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Support Biden larifts on Russian Imports, excerpted below. Refer to it to answer the following three questions. U . S . aluminum companies said they
Support Biden larifts on Russian Imports," excerpted below. Refer to it to answer the
following three questions.
US aluminum companies said they supported the Biden administration's move to impose steep tariffs on
imported Russian aluminum, as analysts and executives predicted the new duties would have a minor effect on
domestic aluminum costs.
The White House on Friday imposed tariffs on imported aluminum from Russia, as well as aluminum
imports from elsewhere that include Russian aluminum, as part of a package of duties on Russian metals,
minerals and chemicals worth about $ billion. The tariff package coincided with the oneyear anniversary of
Russia's invasion of Ukraine.
Russia is one of the world's largest producers of primary aluminum, with large reserves of bauxite and lowcost
hydroelectric power to operate aluminum smelters. The Aluminum Association, a trade group that represents
US producers and users of aluminum, said it "stands united in support of any and all efforts deemed necessary
by the US government to address the ongoing crisis." The group had opposed the Trump administration's
tariffs on imported aluminum...
Chicagobased Century Aluminum Co predicted that the new tariffs would strengthen the US supply chain and
make the country less reliant on unfriendly countries...
"A thriving domestic aluminum market is essential to today's US national security," Century said.
Pittsburghbased Alcoa Corp. said the tariffs are a good first step, but called for sanctions against Russian
aluminum that would effectively make it illegal to buy or sell Russian aluminum in the US
Analysts and company executives said they don't expect a repeat of the price surge when the new
duty on Russian aluminum takes effect on March They said the Biden administration has been telegraphing
the move for months, giving the aluminum industry time to adjust to the duty. Imported aluminum from Russia
already carries a tariff put in place by the Trump administration in US market participants weren't
surprised by the announcement," said Christopher Davis, regional pricing director for Americas metals at S&P
Global Commodity Insights. "They said the increased tariffs were unlikely to have a significant impact on US
pricing."
Which of the following best describes the arguments made by US aluminum companies?
US aluminum companies are seeking to increase producer surplus.
US aluminum companies are seeking to increase consumer surplus.
US aluminum companies are seeking to protect the national security of the country.
US aluminum companies are seeking to lower aluminum prices for consumers.
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