Federal election 2016: steel glut focus of Turnbull’s hook-up with Obama
Malcolm Turnbull and Barack Obama have committed to ‘intensify collaboration’ to deal with a global glut of steel.
Malcolm Turnbull and US President Barack Obama have committed to “intensify collaboration” to deal with a global glut of steel, amid concern that Chinese oversupply is damaging the industries of both countries.
In a wide-ranging discussion between the two leaders yesterday that canvassed national security and domestic issues, Mr Obama also reassured the Prime Minister that the US respected Australia’s “sovereign” decision to award its submarine contract to France.
Mr Obama said the US remained committed to providing the combat system for the new submarines, which is favoured by the government and the RAN.
While the focus of the half-hour phone hook-up was to discuss the military gains made against Islamic State and to thank Australia for its “extraordinary contribution” to the war, another key reason for the call was for Mr Obama to receive a briefing on Mr Turnbull’s recent visit to China.
Of key interest to the US leader was how Australia was able to secure a commitment from Chinese Premier Li Keqiang last month to reduce China’s steel production by 150 million tonnes a year.
“The President and I have agreed that Australia and the US will intensify our collaboration to ensure that the overproduction of steel is addressed,” Mr Turnbull said.
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