BlueScope still in dark on tariffs

BLUESCOPE Steel chief Mark Vassella says the group still does not know whether it will win an exemption from US President Donald Trump’s planned tariffs on imported steel.

Mr Vassella said yesterday that Mr Trump’s proposal had created uncertainty.

BlueScope ships steel from Australia to its operations in the US, which produce metalcoated steel and painted steel coils for building and construction.

President Trump has announced plans to impose a 25 per cent tariff on imported steel and a 10 per cent tariff on imported aluminium, which has sparked concerns the impost could lead to a trade war.

“It’s been very hard for us to get a line on this,” Mr Vassella told reporters at a business forum in Sydney yesterday.

BlueScope had received plenty of support from Prime Minister Malcolm Turnbull, Trade Minister Steve Ciobo and Australia’s ambassador to the US, Joe Hockey, he said.

“But again, until the decision’s made, it’s hard for us to speculate,” Mr Vassella said.

“All we could really do is put our best foot forward.”

Mr Vassella said BlueScope had received a fair hearing from the Trump administration, and given every chance to put forward its case for an exemption.

The US economy remained very strong and BlueScope had a lot of money invested there, he said.