Trade Cases
Turnbull Says Australia Exempt from Trump's Tariff
Written by Tim Triplett
March 13, 2018
Even though the Commerce Department has until next week to issue procedures for handling exclusion requests, Australian Prime Minister Malcolm Turnbull has announced via Twitter that his nation will be exempt from the tariffs on steel and aluminum imposed by the Trump administration March 8.
The United States’ closest trading partners, Canada and Mexico, were exempted from the 25 percent tariff on steel exports and the 10 percent tariff on aluminum exports that other countries face. But other U.S. allies are expected to line up to plead their case for relief. The Trump administration has said it will consider such appeals on a country-by-country basis. Australia appear to be first in line.
As President Trump tweeted on Friday: “[Turnbull] is very committed to having a very fair and reciprocal military and trade relationship. Working very quickly on a security agreement so we don’t have to impose steel and aluminum tariffs on our ally, the great nation of Australia.”
Turnbull responded on Monday: “What we have achieved is a commitment from the president that the tariffs on steel and aluminum will not apply to exports from Australia. This is very important for the thousands of people who rely on these industries for work.”
An exemption for Australia is particularly important to BlueScope Steel, which ships feedstock to its sister company Steelscape in the United States.
The Commerce Department has 10 days from the March 8 announcement of the tariffs to issue procedures for countries to follow in requesting exclusion from the tariffs. Presumably not via Twitter.
Tim Triplett
Read more from Tim TriplettLatest in Trade Cases
US rebar producers seek import relief with new trade case
The four countries targeted for duties are currently the top offshore suppliers of rebar to the US market: Algeria, Bulgaria, Egypt, and Vietnam.
CRU Insight: A 50% S232 tariff will raise US steel prices and shift trade flows
This CRU Insight examines how the increase in Section 232 tariffs on steel to challenging levels will lead to significatively higher prices for end consumers in the US market.
Canacero hits out at new US steel tariffs
Mexican steel trade group Canacero has condemned the US’ actions of raising tariffs on steel and aluminum to 50% from 25%.
It’s official: Trump proclamation doubles S232 on imported steel, aluminum to 50%
President Donald Trump on Tuesday evening signed a proclamation that officially doubled Section 232 tariffs on imported steel and aluminum from 25% to 50%. There was one exception: Section 232 tariffs on steel and aluminum from the United Kingdom will remain at 25%, according to a fact sheet published by the White House.
Cliffs CEO cheers higher S232. What’s next for Canada, Mexico, and automotive?
Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves offered full-throated support for Section 232 tariffs on imported steel being doubled to 50%. And the top executive of the Cleveland-based steelmaker said the steel industry wanted to see as few exceptions as possible to the tariffs.