Australia's Tariff Tug-of-War with Trump

President Donald Trump is considering exempting Australia from new steel and aluminum tariffs following a constructive phone call with Prime Minister Anthony Albanese. With Australia's exports bolstering American jobs and shared defense interests, Albanese remains hopeful for a deal to avoid the tariffs.

In a significant development for international trade relations, U.S. President Donald Trump is considering exempting Australia from his newly imposed steel and aluminum tariffs. Prime Minister Anthony Albanese revealed the potential waiver following a constructive phone conversation with Trump.

The new tariffs, introducing a 25% duty on steel and aluminum imports, mark another escalation in Trump's trade policy. However, Australia's argument that its exports generate American jobs and support shared defense interests appears to be resonating with the U.S. administration.

Albanese remained optimistic about reaching an agreement with Trump, highlighting strong bilateral engagement and emphasizing the importance of strategic defense partnerships under the AUKUS pact. Australia's significant export statistics underscore the economic implications of these tariffs.

(With inputs from agencies.)