US President Donald Trump announced new reciprocal tariffs on countries that impose tariffs on American goods. While the US will target these countries with duties matching their own, Australia is exempt due to a longstanding free trade agreement. Discussions on steel and aluminum tariffs, however, will continue.
Donald Trump has made a massive new move on tariffs but Australia is set to be spared from the President's latest announcement.Australia is set to avoid United States President Donald Trump 's latest move on tariffs but discussions will continue on steel and aluminum exports to America.
But as Australia has not put tariffs on the United States for about two decades stemming from the free trade agreement between the two countries, it will be spared. "For many years, the U.S. has been treated unfairly by other Countries, both friend and foe. This System will immediately bring Fairness and Prosperity back into the previously complex and unfair System of Trade. America has helped many Countries throughout the years, at great financial cost.
"Likewise, provisions will be made for Nonmonetary Tariffs and Trade Barriers that some Countries charge in order to keep our product out of their domain or, if they do not even let U.S. businesses operate. We are able to accurately determine the cost of these Nonmonetary Trade Barriers. Donald Trump earlier this week announced steel and aluminum tariffs. Picture: Andrew Harnik/Getty ImagesIn 2023, Australia exported $USD400 million worth of steel and iron to the United States, according to the UN COMTRADE database on international trade.
Trump later confirmed his administration will give"great consideration" to a steel and aluminium tariff exemption for Australia.
TRUMP TARIFFS AUSTRALIA TRADE RECIPROCAL
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