Australia will not be hit by Donald Trump’s latest reciprocal tariffs
Despite concerns over the future of steel and aluminium exports to the US, Australia has avoided the latest tariff assault from Donald Trump.
Australia will avoid Donald Trump’s latest tariff escalation after he said the US would soon begin implementing reciprocal import duties on its trading partners.
While no specific carve outs were confirmed for Australian steel and aluminium on Friday morning when Mr Trump signed the presidential memorandum, Australia has had a free-trade agreement with the US since 2005 and has not implemented tariffs on US imports.
The announcement comes as Mr Trump has agreed to reconsider sweeping 25 per cent import duties on Australian steel and aluminium, with Australia previously ducking the tariffs during the first Trump administration in 2017.
On Friday, Mr Trump said he had instructed trade advisers to redraft tariffs for all US trading partners, adding that the measures were done out of “fairness”.
“It is fair to all, no other country can complain and, in some cases, if a county feels that the United States would be getting too high a tariff, all they have to do is reduce or terminate their tariff against us,” he wrote on Truth Social.
Earlier this week, hopeful tariff negotiations between the US and Australia appeared at threat after the Trump administration accused Australia of breaking a verbal commitment to limit aluminium exports.
Trade Minister Don Farrell said he was not aware of the unofficial agreement that would have been minted when Scott Morrison was prime minister, and Australia had complied with all the arrangements set in place by the American government.
“What you have to understand, of course, is that post those arrangements being entered into by Mr Morrison or (former trade minister Simon) Birmingham, we’ve had Covid that changed the scene and, of course, we’ve had the war between Russia and Ukraine,” he told reporters on Thursday.
“But I’m very confident that we comply with all of our obligations in terms to supply into the United States.
“I think it’s worth noting that in the last 12 months, the caps that have been talked about, we have not exceeded.”
Appearing at a media event in NSW’s Illawarra region, Anthony Albanese shared his support for the steel industry.
“My message is clear which is ‘we have got your back’. We support blue collar jobs,” the Prime Minister said.
“We support steelworks here. I have been to the steelworks on I don’t know how many times now. I have been going there for three decades,” he told supporters at the Port Kembla BlueScope Steelworks.
“We continue to support jobs in the Illawarra and we support the steelworks. My message to them today is we have got your back.”
Earlier on Friday, Peter Dutton said US tariffs on Australian steel and aluminium would “damage the relationship” between the two allied countries.
“I don’t support these tariffs at all,” the Opposition Leader said.
“There is a deal, I’m sure, to be done with the United States, and there is a lot Australia has to offer.
“The aluminium sector, the steel sector, are incredibly important to our economy, and it’s a big export market for us, and it should continue.”
Originally published as Australia will not be hit by Donald Trump’s latest reciprocal tariffs
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