US EditionTrump's Steel and Aluminium Tariffs Now in Effect
- Last week, Trade Minister Don Farrell raised concerns with his American counterpart Jamieson Greer regarding the tariffs that the US has levied on Australian goods.
- These tariffs rose to 50 percent on steel and aluminum as part of Trump’s global duties that Australia considers unjustified while it buys more from the US than it sells.
- Farrell made remarks following meetings in Paris last week with the WTO, OECD, and other parties that centered on combating protectionist measures and promoting equitable and open trade.
- A study by researchers at Yale University estimates that steel tariffs increase overall prices in the US economy by 1.7%, resulting in an average annual expense of $2,800 for American families if these tariffs remain in place.
- These duties have coincided with announced layoffs of over 1,200 steelworkers by Cleveland-Cliffs and flatlined US steel employment despite tariff increases.
15 Articles
15 Articles
Trump doesn't always chicken out
He did it again. On Wednesday, President Donald Trump doubled the tariff on steel and aluminum from 25% to 50%.And it’s the steelworkers who will pay with their jobs. Stay with me, and I’ll explain these weird, weird facts:Trump’s tariffs on foreign steel increased the amount of steel imported. Despite Trump’s tariffs, total steel imports are up 3.6% year to date compared to 2024 according to the American Iron and Steel Institute.Trump’s tariffs…
U.S. Tariff Turmoil: Australian PM: Trump's steel tariffs 'economic self harm'
Australian Prime Minister Anthony Albanese says Trump's move to double tariffs on steel and aluminum is an act of economic self harm that will increase the cost for consumers. Australia's Trade Minister also criticized the levies, saying tariffs are not the act of a friend. Greg Navarro reports from Sydney.
The United States imposed a basic customs duty of 10% on all imports from Australia and, more recently, a customs duty of 50% on steel and aluminium, the country of which is a major producer.
‘Haven’t Given Up’: Australian Minister Seeks Tariff Breakthrough
Australia will keep pressuring the United States to remove tariffs imposed by President Donald Trump, the trade minister says, ahead of a likely meeting between Prime Minister Anthony Albanese and the president. The two leaders could meet on the sidelines of the G7 summit in Canada next week, with the economic measures imposed by Trump around the world set to dominate discussions. As Australia looks to negotiate for an exemption on tariffs, Trad…
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