Norwegian aluminum producer Hydro foresaw a limited direct impact from recent US tariffs on aluminum, steel, and automotive products. President and CEO Eivind Kallevik noted that extensive domestic sourcing and pass-through pricing mitigate aluminum tariff risks.
While about 6% of European vehicle production went to the US in 2024, Hydro's 15-20% market share in European automotive extrusions and metal results in low direct exposure to potential auto tariffs.
Hydro is prioritizing stable access to the EU market and optimizing its value chain across the US, Mexico, and Canada. Kallevik said the company is closely monitoring the broader economic implications of the trade situation.
Hydro assesses limited impact of US tariffs
12 May 2025 14:20 reported by Joy Liu
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