Opinion

How Albanese can fight Trump’s tariffs

Donald Trump’s tariffs on steel and aluminium are more of a political headache for Prime Minister Anthony Albanese than an economic problem for Australia.

John KehoeEconomics editor

Mar 12, 2025 – 4.20pm

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Donald Trump’s tariffs on steel and aluminium are more of a political headache for Prime Minister Anthony Albanese than an economic problem for Australia.

The direct macroeconomic impact from the 25 per cent tariffs on $1 billion of steel and aluminum exports will be miniscule, despite the tremors being felt at BlueScope’s Port Kembla steel plant and aluminium exporters Rio Tinto and Alcoa.

John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury.