Alcoa Corp., a leading aluminum producer in the US, said that US tariffs on Canadian aluminum led to an additional US$69 million in costs compared to the previous quarter. Despite this, rising domestic aluminum prices, driven by President Donald Trump’s trade measures, largely counteracted the financial impact.

Alcoa is resuming normal aluminum shipments from its Canadian smelters after earlier reductions. CEO William Oplinger said the price increase reflected declining inventory and aluminum imports.

However, the company expects its tariff costs to increase by another US$50 million in the fourth quarter, suggesting that expenses from trade measures are continuing to mount.