Trump announces 25% tariffs but signals possible exemption for Australian steel

US President Donald Trump has stated he will give “great consideration” to exempting Australian steel and aluminium exports from new tariffs, shortly after Prime Minister Anthony Albanese confirmed the exemption was “under consideration.”

Following a “constructive and warm” discussion with Mr Trump, Mr Albanese said both leaders agreed on the public wording, confirming that a carve-out for Australia was being reviewed.

However, in a later press conference, Mr Trump initially ruled out exemptions before acknowledging that Australia’s case would be seriously considered. Describing Mr Albanese as a “fine man,” he noted Australia’s unique trade surplus with the US.

Australia exported 223,000 tonnes of steel and 83,000 tonnes of aluminium to the US in 2023, valued at $377 million.

Opposition Leader Peter Dutton warned that the tariffs could harm US-Australia relations, stressing bipartisan support for their removal.

During a previous Trump administration, it took nearly a year for Australia to secure an exemption from similar tariffs. Mr Albanese declined to speculate on the outcome but reaffirmed the commitment to working with the US to strengthen economic ties.

Source: ABC News