The U.S. President Donald Trump has granted Australia an exemption from its new tariffs following discussions with Australian Prime Minister Malcolm Turnbull. Turnbull said Australia will not join an international protest against the U.S. over aluminium and steel tariffs.
"Spoke to PM of Australia. He is 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 or aluminium (sic) tariffs on our ally, the great nation of Australia!,” Trump said on Twitter.
Trump has already exempted Canada and Mexico from the new import tariff till the three countries decide on North American Free Trade Agreement (NAFTA).
"Great discussion today on security and trade. Australia/US trade is fair & reciprocal & each of our nations has no closer ally. Thank you for confirming new tariffs won’t have to be imposed on Australian steel & aluminium - good for jobs in Australia and in US!,” Turnbull said.
Australia’s steel and aluminium export to the United States was worth just over A$400 million ($314 million) last year, government data showed.
Donald Trump last week signed proclamation that imposed 10 per cent tariff on imported aluminium and 25 per cent on steel.
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