Australian Prime Minister Refuses to Retaliate Against US Tariffs

 

Australian Prime Minister Refuses to Retaliate Against US Tariffs

Australian Prime Minister Anthony Albanese has deemed the tariffs imposed by the United States on Australian steel and aluminum as unjustified, but has confirmed that his government will not retaliate with similar tariffs.

Albanese pointed out that Australia had previously been exempt from these tariffs in 2018 during the first term of US President Donald Trump's administration, citing several factors, including the role of Australian steel company BlueScope in employing thousands of workers within the United States.

The Australian Prime Minister has vowed to continue seeking a new exemption, noting that the previous exemption took several months to secure. "It's been indicated that any country, regardless of its relationship with the United States, will not receive an exemption," he said, describing the decision as entirely unjustified.

Albanese has also emphasized that the imposition of tariffs and the escalation of trade tensions constitute "self-inflicted economic harm," as they lead to slowed economic growth and increased inflation, with consumers bearing the direct costs of these measures. For this reason, he confirmed that Australia will not impose similar tariffs on the United States.

Trump had suggested last month that Australia, a US trade partner under a free trade agreement, might be exempt from these tariffs, citing the longstanding US trade deficit with Australia.

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