Rio Tinto reveals US tariffs added $US300 million | Australian Markets
Global miner Rio Tinto has revealed it incurred about $US300 million ($460m) in gross prices over the primary half of 2025 as a end result of US tariffs on its aluminium exports from Canada.
It is known Rio is among the many first corporations to reveal the hit from Donald Trump’s trade conflict this yr, which noticed the US President slap a blanket 25 per cent import charges on metal and aluminium in March earlier than mountaineering the penalties to 50 per cent in June.
Last week it was revealed copper is also subjected to a 50 per cent tariff a transfer that may affect Rio and rival BHP as two of the most important copper producers within the world.
Revealing a 13 per cent soar in iron ore exports in its second quarter manufacturing outcomes on Wednesday, Rio additionally stated it had incurred “around $US300m of gross costs associated with US tariffs on our primary aluminium exports from Canada”.
The miner stated a “substantial part” had been compensated from larger premiums on US gross sales “which rapidly adapted” to the 25 per cent tariff. However, it famous the premium was not absolutely compensating for the 50 per cent tariff imposed on the finish of the second quarter.
Rio is Canada’s greatest aluminium producer and likewise sells a vital quantity of its manufacturing into the US market, significantly from its Canadian operations in Quebec and British Columbia.
The miner shipped 723,000 tonnes of aluminium to the US within the first half.
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