Recently, Bloomberg reported that the Biden administration is weighing a ban on Russian aluminum. This would be to punish Moscow for escalating its war in Ukraine. The problem is that a ban could hurt the U.S. more than Russia and do little to help Ukraine. Rather, a ban could trigger antidumping duties and retaliatory tariffs, and exacerbate the rising inflation Americans are experiencing today. The U.S. has an insatiable appetite for aluminum. Green initiatives, like those targeting electric vehicles and solar panels, are greatly whetting this appetite. It is estimated that, by 2030, global demand for aluminum will increase by 40 percent. China and Russia are the largest producers
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