Alcoa CEO Oplinger worries tariffs will destroy demand for U.S. metal

[Aluminum Maker Alcoa Plans To Cut 15,000 Jobs]
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Alcoa (NYSE:AA [https://seekingalpha.com/symbol/AA]) CEO Bill Oplinger warned [https://www.bloomberg.com/news/articles/2025-09-23/alcoa-ceo-warns-tariffs-will-destroy-metal-demand-as-prices-rise] Tuesday in a Bloomberg interview that import tariffs will destroy demand for American metal, contrary to the Trump administration’s belief that tariffs are necessary to protect the U.S. industry and revitalize production.

The CEO said prices are significantly higher in the U.S. due to President Trump's 50% tariffs on aluminum imports, and that American customers or shareholders ultimately will pay the higher price.

"It's hard to envision a situation where aluminum is systematically 50% more in the U.S. without some type of demand destruction," the CEO told Bloomberg, adding the tariff has burdened the company with ~$850 million in annual tariff expense.

Aluminum demand has been hurt by a sharp decline in U.S. exports and a reduction in industrial uses, but Oplinger said Alcoa's (NYSE:AA [https://seekingalpha.com/symbol/AA]) order books in the U.S. remain strong, and so-called premiums have risen to cover the tariffs.

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