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Aluminum company Alcoa cut its full-year profit forecast Wednesday, due in part to Trump administration tariffs, sending shares lower in after-hours trading.
Alcoa now expects operating earnings of between $3 billion and $3.2 billion, $500 million below the prior range estimated.
The reduction in outlook is due to ‘current market prices, tariffs on imported aluminum, increased energy costs, and some operational impacts,’ said Alcoa, which imports aluminum from Canada.
The Trump administration announced tariffs on imported steel and aluminum earlier this spring and later removed an exemption on Canada, Mexico and the European Union at the end of May. 
The tariffs on Canadian exports went into effect June 1.
The levies resulted in higher costs of $15 million in the second quarter, the company said.
Earnings for the second quarter came in at $75 million, unchanged from the year-ago period.
Revenues jumped 25.2 percent to $3.6 billion.
Shares fell 2.2 percent to $46.78 in after-hours trading.