Markets

Australia Exempt from US Tariffs

Australia Exempt from US Tariffs

Foreign nations, especially China, have flooded the United States with unfairly priced, subsidized steel and aluminum, forcing prices down and hurting domestic manufacturers, the report found.

Turnbull told a news conference in South Australia state his discussions with Trump included the ongoing threats from North Korea after the USA president opened the possibility of talks with North Korean leader Kim Jong-un.

Canada, Mexico and Australia have secured exemptions from the tariffs of 25 per cent on imported steel and 10 per cent on aluminium announced by Mr Trump, though Canada's and Mexico's were conditional on progress being made in renegotiating the North American Free Trade Agreement.

Trump tweeted on Friday that "Working very quickly on a security agreement so we don't have to impose steel or aluminum tariffs on our ally, the great nation of Australia!"

Australia has won favour with the United States for its commitment to military expansion in the region.

UN Women head: The time is now for gender equality
The two main trade unions supported half-day stoppages and estimated that almost 6 million people took part. McDonald's turned their iconic arches upside down for International Women's Day .

But the Saturday meetings in Brussels, the capital of the European Union, appeared to be inconclusive.

Trump highlighted close ties with Australia when pressed on the possibility of further exemptions. He said the conversation also touched on the security alliance between the U.S. and Australia, as well as possible talks between Trump and North Korean leader Kim Jong Un.

"Thank you for confirming new tariffs won't have to be imposed on Australian steel & aluminium - good for jobs in Australia and in U.S.!" said the Australian premier as he retweeted the USA president's tweet. Instead, they said, Trump is bolstering domestic industries in violation of worldwide trade rules.

Turnbull said Saturday that Australia and the United States have a fair and reciprocal trade relationship.


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