Trump says he signed proclamation to adjust tariffs on aluminum imports

By Kanishka Singh

WASHINGTON, ‌July 20 (Reuters) - President ​Donald ​Trump said on Monday he signed a proclamation to adjust tariffs on imports of ‌aluminum into the United States, adding the domestic ⁠production of primary aluminum in the U.S. was currently insufficient.

Here are ‌quotes and details:

• "In the (Commerce) ‌Secretary's view, it is important to modify the aluminum tariff regime in a way to more effectively ​encourage increased domestic production of primary aluminum," Trump said in the proclamation released by the White ⁠House.

• U.S. demand for primary aluminum currently outpaces the production capacity of U.S. ​smelting facilities, according to the proclamation.

• Trump described aluminum as being critical to the U.S. ​economy and defense industrial base.

• ‌The proclamation directed the U.S. commerce secretary to establish an incentive program for companies ⁠that will invest in building, expanding, or refurbishing aluminum smelters in the United States, the White House said.

• The ⁠program will request onshoring plans from companies that, if approved, will ​be eligible to import a commensurate level of primary aluminum into the United States at a reduced tariff rate equal to ‌half of the otherwise applicable Section 232 rate, the White House said in the ‌proclamation.

• Section 232 of the Trade Expansion Act of ⁠1962 authorizes the president ‌to adjust imports ​found to threaten U.S. national security.

(Reporting by Kanishka Singh and Ismail Shakil; Editing by Jasper ‌Ward)

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