Australia, Canada Brace for Trump's Steel Tariffs Starting This Week

The imminent imposition of 25% tariffs on steel and aluminum exports to the U.S. is causing growing concern for both Australian and Canadian producers. Australian officials, including Prime Minister Anthony Albanese, are pushing for an exemption but face diminishing hopes as U.S. advisers indicate that such exemptions are unlikely. In Canada, where 24,000 jobs in Hamilton's steel industry are at risk, local officials have been actively lobbying to avoid the tariffs, which are set to take effect imminently. The tariffs are part of a broader protectionist policy under President Trump, who has made it clear he values the financial benefits of the tariffs despite potential consumer costs. Both nations' leaders emphasize the economic impact of the tariffs, with Australian officials asserting that an exemption would benefit both countries. Meanwhile, Trump's rhetoric suggests he is confident in the economic gains from the tariffs, regardless of international concerns.