Trump exempts Australia from tariffs
President Donald Trump said he was working on a security agreement with Australia that would exempt the country from planned tariffs on steel and aluminum imports.
“Spoke to PM @TurnbullMalcolm of Australia. He is committed to having a very fair and reciprocal military and trade relationship,” Trump said on Twitter.
“Working very quickly on a security agreement so we don’t have to impose steel or aluminium tariffs on our ally, the great nation of Australia.”
Trump has announced a 25 per cent tariff on steel imports and 10 per cent on aluminium. He excluded Mexico and Canada, as long as they negotiate a new North American Free Trade Agreement, and threw the door open to further exclusions for countries and niche products.
Prime Minister Malcolm Turnbull confirmed that Australia would be excluded from the US metal tariffs following discussion with Trump.
Several countries have sought exemptions from the tariffs and Trump has said he would consider exemptions based on national security and the economic relationship between countries and the US.
Treasury Secretary Steven Mnuchin said the US wants to negotiate exemptions for the tariffs before they take effect in two weeks, as pressure grows from allies who are threatening retaliation if the duties are applied to them. — Bloomberg