Australia has no plan to retaliate against looming U.S. tariffs on its steel and aluminium exports as it pleads instead for a carve-out, the government said Wednesday.
U.S. President Donald Trump signed executive orders Monday to impose 25 per cent tariffs on steel and aluminium imports from an array of producers, including Australia, from March 12.
After a phone call with Trump, Prime Minister Anthony Albanese said the pair had agreed that an exemption from the tariffs for Australia was “under consideration.”
Asked if Australia would retaliate if its request is denied, Treasurer Jim Chalmers said: “That’s not something we are considering.”
“Our priority is to try and get an exemption on behalf of our industries and our workers here in Australia,” he said, speaking to national broadcaster ABC on Wednesday.
Australia is a minor global player in steel export markets but is the leading exporter of iron ore, most of it heading to China.
Canberra has stressed its close defence and diplomatic ties with Washington, noting also that the United States enjoys a trade surplus with Australia.
Australian exports make up one per cent of U.S. steel imports and two per cent of aluminium, the government says.
