Shaping U.S. Aluminum Policy: Our Priorities and Path Forward

A brief update on aluminum tariffs and our ongoing engagement with the administration

Over the past month, we have seen a major announcement of investment in new aluminum capacity in the United States. While welcome, any new capacity will take some time to come online. Accordingly, we are hopeful that there may be increasing opportunities for the Trump administration to evolve its aluminum policy in ways that lower costs for consumers and support domestic manufacturers.

In recent conversations with key stakeholders, we have reiterated several priorities:

• Primary aluminum destined for U.S. cansheet production remains our top advocacy priority.

• Certain downstream derivatives-particularly can ends and lids-are also relevant, though secondary to securing competitively priced primary input.

• Any effort to lower tariffs on imported derivatives to reduce consumer prices should be matched by ensuring that American brewers can access U.S. cans at globally competitive prices.

We have framed this simply: it is encouraging to see investment in aluminum capacity, and we welcome interest in lowering prices for American consumers by adjusting tariffs on some derivatives used in American manufacturing. At the same time, it is important to ensure that U.S. manufacturers can access essential inputs at competitive costs so they can compete effectively with imported finished or semi-finished products.

As a next step, we anticipate engaging with the administration on its evolving approach and outlining considerations to further support domestic manufacturing as policy positions continue to take shape.

We will continue engaging constructively and keep you informed as discussions progress.