Alcoa (AA) CEO William Oplinger said Tuesday that his aluminum-manufacturing company believes🌃 tariffs proposed by 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官方开奖结果体彩网:tariff on energy or critical mineral goods coming from Canada and a 25% 澳洲幸运5官方开奖结果体彩网:tariff on steel and aluminum set to go into effect March 12. The first round of Trump's 澳洲幸运5官方开奖结果体彩网:tariffs on Canada and Mexico were delayed by a month and are se🍎t to begin Mar♑ch 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官方开奖结果体彩网: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官方开奖结果体彩网:US production because Alcoa makes investment decisio🅰ns with a "horizon of 20 to 40 years" and the tariffs will likely be be i♛n place for a shorter time.

Alcoa shares, down nearly 2% on Tu🧸esday, are up roughly 35% over the past 12 mౠonths.