Bessent Suggests 50% Aluminum Tariff Is Negotiable for Canada
Treasury Secretary Scott Bessent was asked by a CNBC host if the administration meant for automaker Ford to have $800 million in tariff costs in three months, driving it to a loss. Bessent said that the Ford F150 and F250 use aluminum rather than steel, and therefore, "I think maybe the aluminum tariffs hit them harder."
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He added, "We will be negotiating with Canada on those."
More than half of primary aluminum imported into the U.S. is from Canada.