The Superbowl has started (do not care) but Donald Trump is there (because of course) which means there is political news.
As AAP reports:
President Donald Trump says the United States will impose 25 per cent tariffs on all steel and aluminium imports, in another major escalation of his trade policy overhaul.
“Any steel coming into the United States is going to have a 25 per cent tariff,” he told reporters Sunday on Air Force One as he flew from Florida to New Orleans to attend the Super Bowl.
When asked about aluminium, he responded, “aluminium, too” will be subject to the trade penalties.
It’s not yet clear how and if Australia, which exports around $US300 million ($A479 million) worth of steel and a similar amount of aluminium to the US a year, will be affected.
The Australian government has recently argued that the country has a trade deficit with the US, and that should be taken into consideration.
During the first Trump presidency, Australia was given an exemption from such tariffs based on that argument but if tariffs are imposed, the flow-on effect for its producers could be challenging.
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