Tariff Talks: Trump's Consideration for Australia's Steel and Aluminum

US President Trump is considering a tariff exemption for Australian steel and aluminum imports after discussions with Prime Minister Anthony Albanese. The US-Australia trade surplus and Australia's defense contributions were influential. This decision follows tariffs announced by Trump on steel imports.

In a significant diplomatic engagement, US President Donald Trump announced he might exempt Australian steel and aluminum imports from recently declared tariffs, a consideration revealed after Tuesday's telephonic discussion with Australia's Prime Minister Anthony Albanese.

The call preceded Trump's Monday declaration on tariffs, with Albanese emphasizing Australia's persistent trade deficit with the U.S. and its implications for the local economy and defense industries. Highlighting the bilateral trade surplus, Trump suggested this as a key factor for re-evaluating the tariffs affecting Australia.

The conversation also touched on AUKUS defense agreements and job impacts in the U.S. steel industry. Albanese described the dialogue as constructive, suggesting potential economic synergies. Trump seeks to align import taxes with international levels while maintaining tariff levels on major trade partners, including China.

(With inputs from agencies.)