Prime Minister Anthony Albanese said President Trump agreed that an aluminium and steel tariff exemption for Australia is under consideration.
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00:00On tariffs, we discussed Australia's position when it comes to tariffs, particularly with
00:09regard to steel and aluminium.
00:13We have, of course, the US has a trade surplus with Australia that it's had since the Truman
00:19administration.
00:20It's about two to one when it comes to trade between our two countries.
00:26The US is an important investor, of course, here in Australia as well.
00:33When you look at the imports of these products into the US, it's about one per cent of imports
00:40of steel, two per cent of aluminium.
00:45Our steel is an important input for US manufacturing.
00:50Blue Scope is the US fifth largest steelmaker.
00:54They've invested $5 billion in the US across a range of states.
01:01I think there's more than 30 different investments there.
01:06Of course, the major export is Colourbond there for roofs in California on the west
01:15coast and it plays an important role.
01:18Aluminium is a critical input for downstream manufacturing in the United States.
01:24Our steel and aluminium are both key inputs for the US-Australia defence industries in
01:32both of our countries.
01:34I presented Australia's case for an exemption and we agreed on wording to say publicly,
01:44which is that the US President agreed that an exemption was under consideration in the
01:52interests of both of our countries.