Rio Tinto CEO Visits Washington Amid Concerns Over Trump's Trade Policies
Jakob Stausholm, CEO of global mining company Rio Tinto Group, traveled to Washington, D.C. to meet with lawmakers and policy experts to ascertain the intentions of the Biden administration's trade policies, particularly regarding the United States' relationship with Canada.
As a major supplier of aluminum to the U.S. market, Rio Tinto has expressed concerns over the potential impact of tariffs on its Canadian operations, which account for approximately half of its aluminum production. Trump previously imposed a 10% duty on Canadian aluminum imports in 2018, but an exemption was later granted to Canada. However, in March 2025, Trump announced the rescinding of all exemptions and the implementation of a 25% tariff on all aluminum imports.
Stausholm's visit to Washington reflects the company's seriousness in understanding and addressing the administration's trade policies. Rio Tinto has a significant presence in the U.S., producing copper, gold, silver, tellurium, molybdenum, and boron. The company also acquired a 50% stake in Matalco, a U.S.-based recycled aluminum producer, in 2023.
Rio Tinto, along with industry associations and other stakeholders, has previously lobbied against tariffs on Canadian aluminum imports, arguing their negative impact on the industry and economy. The company's engagement with the Biden administration is aimed at understanding the administration's goals and exploring potential solutions to mitigate the impact of tariffs on its operations.