Jamieson Greer, the US Trade Representative, indicated that the Trump administration is open to modifying the broad tariffs on steel and aluminum in light of pressure from business groups and international partners. During an appearance on CNBC, Greer noted that adjustments might be possible to ease compliance burdens on companies that have had to hire additional staff to meet regulatory requirements. This suggests a potential reevaluation of how these tariffs are applied, while still maintaining their fundamental presence.

Despite the openness to modifications, Greer emphasized that the fundamental tariffs on these metals will remain in place, describing them as highly successful in bolstering the domestic industry. He asserted that the tariffs are part of a broader strategy to maintain the competitiveness of American metal enterprises, and reaffirmed that they would not be eliminated. This commitment signals the administration's intention to balance economic growth with protective measures for local industries.

In the wake of these statements, shares of US aluminum companies experienced a decline, highlighting the immediate impact of tariff-related news on the market. Companies like Alcoa Corp. saw noticeable drops, indicating investor concern about the future profitability and operational dynamics in an environment where tariffs and international trade policies remain fluid. The situation reflects broader uncertainties in the industry as stakeholders navigate potential changes in trade regulation and market competitiveness.