Jim Chalmers Heads to Washington for High-Stakes Trade Talks

Australian Treasurer Jim Chalmers plans to visit the U.S. to discuss trade and tariffs with U.S. Treasury Secretary Scott Bessent. The visit follows President Trump's consideration of exempting Australia from steel and aluminium tariffs. Talks will focus on strengthening trade relationships.

Australian Treasurer Jim Chalmers is set to visit Washington this week for crucial trade and tariff discussions with U.S. counterpart Scott Bessent. The meetings, announced during a broadcast on Australian Broadcasting Corporation television, aim to explore potential exemptions from tariffs, following a recent development involving President Donald Trump.

President Trump has agreed to consider an exemption for Australia from his administration's steel and aluminium tariffs after phone discussions with Australian Prime Minister Anthony Albanese. While Chalmers does not anticipate finalizing any deals, he is eager to engage in dialogue with Bessent for the first time since taking office.

With Australia positioned as the world's largest exporter of iron ore, the outcome of these discussions could significantly impact the Indo-Pacific's economic dynamics. As both nations navigate their alliance, these meetings could set the tone for future trade relationships under the new U.S. administration.

(With inputs from agencies.)