According to Alcoa President and CEO Bill Oplinger, US tariffs on aluminum imports will not encourage the company to expand in the US. He said that the unpredictability of these tariffs makes them unreliable for long-term investment decisions.

Oplinger also pointed to high electricity costs as another major barrier for new mining projects. He explained that the surge in demand from AI data centers is driving up power prices, making it difficult for Alcoa to build a competitive business case for energy-intensive operations in the US.

He expressed concern that publicly traded companies such as Alcoa, which follow stricter environmental standards, are at a disadvantage against state-backed mining companies using cheaper, fossil-fuel-based power.