US President Donald Trump and Prime Minister Anthony Albanese have stated an exemption for Australia from Trump’s executive order placing 25% tariffs on all steel and aluminium imported into the US is “under consideration”. But prospects remain uncertain.
Albanese would do well to secure an exemption using similar arguments as then-Prime Minister Malcolm Turnbull did in 2018.
If Australia cannot obtain a carve-out from the tariffs, the main group affected will be the Australian producers of steel and aluminium. But the size of the hit they will take is difficult to predict.
