Aluminum producer Alcoa said on Tuesday that U.S. President Donald Trump's plan to impose a tariff on aluminum imports could cost about 100,000 U.S. jobs and would itself not be enough to entice it to boost production in the country.

The aluminum company views a 25% tariff on aluminum imports resulting in about 20,000 direct U.S. industry jobs being cut, as well as many as 80,000 indirect jobs being eliminated, Chief Executive Bill Oplinger said.

Alcoa (NYSE:AA) -2.5% in Tuesday's trading, potentially headed for its lowest YTD closing price, after saying President Trump's plan to impose a 25% tariff on aluminum imports could knock out ~100K U.