Howmet Aerospace May Halt Shipments Over Tariffs
Howmet Aerospace has informed Airbus, Boeing, and other customers that it may suspend certain shipments of fasteners and other aerospace components due to the impact of tariffs introduced by U.S. President Donald Trump, Reuters reports.
In a letter to customers, Pittsburgh-based Howmet Aerospace declared a force majeure event — a legal provision that frees parties from contractual obligations when confronted with unforeseen and uncontrollable circumstances.
“Howmet will be excused from supplying any products or services that are impacted by this declared national emergency and/or the tariff executive order,” Howmet Aerospace stated.
However, the supplier also expressed a willingness to negotiate over the sharing of tariff costs, offering to collaborate with customers and discuss potential solutions to mitigate the impact of new tariffs on the company.
On April, Trump cited trade deficits as a national emergency when he announced tariffs with rates ranging from 10% to around 50%, rattled investors amid fears of a coming recession.
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