BHP calls US steel and aluminium tariffs a ‘black day’ for world

BHP’s Andrew Mackenzie says US steel and aluminium tariffs are regrettable, but the global economy is in its best shape since 2010.

US tariffs a black day for business, says BHP CEO Andrew Mackenzie. Pic: AAP

BHP chief executive Andrew Mackenzie says Donald Trump’s steel and aluminium tariffs are a “black day” for the world and business.

But the good news for Australia is that the global economy is in the best shape since 2010.

“In spite of recent moves made by the United States to impose tariffs on steel and aluminium products — a black day for the world and business — elsewhere we observe buoyant economic conditions underpinned by the growth of free trade outside the US,” Mr Mackenzie told a Sydney business conference.

“We see the world economy in the strongest shape it has been since 2010.”

He said this was good news for Australia and BHP.

“Free trade is self-evidently the lifeblood of the global economy, and we expect it to flourish despite the regrettable developments in the US,” Mr Mackenzie said.

“BHP will never seek to hide behind trade barriers to shield ourselves from our lack of competitiveness. We will compete to win on level playing fields around the world and champion their continued existence and extension, as should Australia.”