The cost of aluminum for consumers in Europe buying on the physical market has dropped due to expectations that Canadian shipments under U.S. tariffs from Tuesday will be diverted, physical market traders said.
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The U.S. is a major importer of aluminum used widely in the transport, packaging and construction industries, shipping in 5.46 million metric tons of aluminum products in 2023, according the U.S. Commerce Department.
According to the Commerce Department, Canada accounted for 3.08 million tons or 56 per centof aluminum product imports to the United States for domestic consumption in 2023, the latest full year data available.
I am not speaking about going full isolationist. I am saying we need to isolate our economy more than it is, and focus on domestic production and trade over international trade in the current global climate.
Canada is in a unique position because we have so much that we could use domestically to produce our own goods that is currently being shipped to other countries. Domestic trade and production should be the default state only turning to international trade when it offers what cannot be produced domestically or when we have an excess not used domestically.
The article gives the perfect example: Aluminum. We should be producing the things aluminum makes, not selling it to buy back as a products later. Like the fighter jets we still don’t have.
We should be one of the richest countries in the world and we aren’t because we sell everything, including domestic infrastructure and natural resources, to anyone who will buy them.
Depends on the thing. For example it’s better to ship aluminum ingots than empty cans; however it’s better to ship a completed aeronautic assembly than ingots.