Aluminum tariffs could cost 100K jobs

(CNN)– A U.S. industry leader warns President Trump’s plan to impose a 25% tariff on all imported aluminum could cost 100,000 American jobs.

The new tariff rate is a 15% point increase from prior levels and does not permit any exceptions or exemptions.

It is set to go into effect next month.

The CEO of Alcoa, one of the largest U.S. aluminum makers, told a conference the tariff would eliminate about 20,000 direct U.S. aluminum industry jobs.

He added the tariff could eliminate 80,000 indirect jobs.