Australian exemption for US aluminium and steel tariff is ‘under consideration’

Prime Minister Anthony Albanese said President Trump agreed that an aluminium and steel tariff exemption for Australia is under consideration.

Transcript

00:00On tariffs, we discussed Australia's position when it comes to tariffs, particularly with

00:09regard to steel and aluminium.

00:13We have, of course, the US has a trade surplus with Australia that it's had since the Truman

00:19administration.

00:20It's about two to one when it comes to trade between our two countries.

00:26The US is an important investor, of course, here in Australia as well.

00:33When you look at the imports of these products into the US, it's about one per cent of imports

00:40of steel, two per cent of aluminium.

00:45Our steel is an important input for US manufacturing.

00:50Blue Scope is the US fifth largest steelmaker.

00:54They've invested $5 billion in the US across a range of states.

01:01I think there's more than 30 different investments there.

01:06Of course, the major export is Colourbond there for roofs in California on the west

01:15coast and it plays an important role.

01:18Aluminium is a critical input for downstream manufacturing in the United States.

01:24Our steel and aluminium are both key inputs for the US-Australia defence industries in

01:32both of our countries.

01:34I presented Australia's case for an exemption and we agreed on wording to say publicly,

01:44which is that the US President agreed that an exemption was under consideration in the

01:52interests of both of our countries.