In a hectic 24 hours of trade diplomacy, US President Donald Trump has paused his threatened 25% tariffs on US imports from Canada and Mexico, while keeping 10% tariffs on imports from China.
Australian companies with operations in Canada or Mexico such as Rio Tinto, whose Canadian operations export billions of dollars of aluminium to the US, have won a temporary reprieve. But the risk of weaker economic growth in China will weigh heavily on companies that export to our largest trading partner.
And Trump has hinted all US imports of aluminium and copper, including from Australia, may be his next target.
