Calling the decision “entirely unjustified”, Albanese argued that retaliatory measures would only increase costs for Australian consumers and fuel inflation. Despite previously discussing a possible exemption with Trump, the White House ruled out exceptions for any country. Albanese stated he would continue lobbying the U.S. administration for a reprieve but ruled out traveling to Washington, opting instead for a direct phone call with Trump.
indirect effects will hit miners supplying raw materials to steel manufacturers
Steel and aluminium exports to the U.S. represent less than 0.2% of Australia's total exports, with iron ore—Australia’s primary steelmaking export—remaining largely unaffected.
The U.S. maintains a significant trade surplus with Australia, reaching $17.9 billion in 2024.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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