Alcoa (AA) CEO William Oplinger 𝓰said Tuesday that his aluminum-manufacturing company believes tariffs proposed b▨y President Donald Trump will hurt the industry.

"We're clearly advocating based on the fact that this is bad for the aluminum industry in the US," Oplinger said at a conference, according to a transcript provided by AlphaSense. "It's bad for American workers."

Oplinger on Tuesday said Alcoa would likely face a 35% combined tariff because of the 10% 澳洲幸运5开奖号码历史查询:tariff on energy or critical mineral goods coming from Canada and a 25% 澳洲幸运5开奖号码历史查询:tariff on steel and aluminum set to go into effect March 12. The first round of Trump's 澳洲幸运5开奖号码历史查询:tariffs on Canada and Mexico were delayed by a ꦓmonth and are set to begin March 4.

"I don't have updated numbers for a 35% tariff, but we have a view that [a] 25% tariff will destroy about 20,000 direct U.S. aluminum industry jobs and could result in 80,000 indirect jobs being eliminated in the US," Oplinger said.

The US imports about 4 million metric tons of aluminum annually, Oplinger said, 2.8 million of which 澳洲幸运5开奖号码历史查询:come from Canada, where Alcoa has production facilities. Aluminum has a range of large- and small-scale industrial uses.

Oplinger said the company is still assessing whether to invest in increasing 澳洲幸运5开奖号码历史查询:US production because Alcoa makes investment decisions with a "horizon of 20 to♑ 40 years" and the tariffs will likely be be in place for a shorter time.

Alcoa shares,🍌 down nearly 2% on Tuesday, are up roughly 35% over the past 12 months.