Australia will avoid Donald Trump’s latest tariff escalation after he said the US would soon begin implementing reciprocal import duties on its trading partners.

U.S. President Donald Trump says he has agreed to consider a tariff exemption on Australian steel and aluminum imports after a telephone conversation with Australia’s prime minister.

A senior minister has played down concerns a surprise line in a Presidential proclamation ordering 25 per cent tariffs on steel and aluminium exports to the US will cause issues as Australia seeks exemptions.

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By comparison, less than $1 billion of steel and aluminium was exported to the US in 2023, according to data from UN Comtrade, consisting of about $500 million of aluminium and less then $400 million of steel. Exports to the US account for about 10% of Australia’s total exports of these metals.

The fifth-largest steel producer in the U.S. hopes to again win a reprieve from duties on its shipments of Australian-made steel to the U.S.

Australias largest steelmaker, is poised to benefit from U.S. President Donald Trumps 25% tariffs on steel and aluminum imports, CEO Mark Vassella stated. Following the announcement,