The Commerce Department last week revealed its import restriction options for Trump, including a 7.7% global aluminum tariff on products from all countries.
Asia’s No.1 carmaker has developed a magnet that reduces dependence on neodymium, a key rare earth metal used in the world’s most powerful batteries for electric vehicles.
Some lawmakers urged him to save steel and aluminum producers in their states, but others urged caution because higher prices would hurt manufacturers.
President and chief operating officer Mike Frasersaid company has received a number of offers for the assets, which it up for sale in November last year as part of a shift away from coal.
The Commerce Department confirmed it submitted results of national security investigation into aluminum imports that could lead to broad import restrictions.
