Australians have been urged to come together and support homegrown industries as US President Donald Trump threatens hefty tariffs on more goods.
Prime Minister Anthony Albanese on Friday announced $750 million in federal funding to develop new technologies for lower emissions and better productivity in Australian metals manufacturing.
The package provides some relief for the industry after America's 25 per cent tariffs on steel and aluminium came into effect, aiming to ensure it remains internationally competitive.
As negotiations continue, the situation could worsen in the meantime after Mr Trump flagged the prospect of new tariffs to protect American agriculture.
"We need a Team Australia approach here, because there's going to be plenty more challenges ahead," Trade Minister Don Farrell told the Global Food Forum in Melbourne on Friday.
"We need a united voice on trade from Australia's exporting community and, most importantly, from our politicians."
Billions of dollars in Australian beef, wine and other agricultural exports could be next on the chopping block, with Cattle Australia chief executive Chris Parker saying he is "extremely concerned" by Mr Trump's protectionist comments.
But Senator Farrell said he had spoken to US Commerce Secretary Howard Lutnick on Friday and would continue to back farmers' interests, comparing the US negotiations with discussions that recently led China to lift similar trade restrictions on Australia.
"We'll stand with you from shoulder-to-shoulder to protect our trade interest, just like we did to resolve all those issues with China," he said.
The coalition says the federal government hasn't done enough to secure an exemption from the steel and aluminium levies, and should have sent the prime minister for face-to-face talks with Mr Trump.
"If the government doesn't get its skates on, then we're going to have further tariffs applied to Australia," Opposition Leader Peter Dutton told reporters on the NSW central coast.
But Senator Farrell said none of the countries that secured an exemption in Mr Trump's first term had managed to secure a repeat, regardless of whether they met with the president.
"The decision was already made," the trade minister said.
As Australia continues negotiations with the US, a trade war is taking shape in the northern hemisphere after Mr Trump threatened to slap a 200 per cent tariff on wine, cognac and other alcohol imports from Europe following its plan to impose retaliatory levies on US whiskey.
Former Labor leader Bill Shorten urged Australia not to rule out a similar response.
"At the end of the day, if they keep putting tariffs on all of our goods, then we've got to reciprocate dollar for dollar, tariffs for tariffs," he told Sunrise.
However, the government has continued to talk down this option as it would push up prices for consumers.
"We do not impose tariffs on US goods into Australia and we expect the same," Mr Albanese said.
If Australia is slapped with further tariffs, Senator Farrell said it could try to diversify exports and enter trade agreements with other nations.
The federal government has also encouraged shoppers to purchase local products and will allocate support for a "buy Australian" campaign in the budget, to be delivered on March 25.
