Albanese Discusses Tariff Exemption with Trump Amid $900 Million Impact

Australian Prime Minister Anthony Albanese is set to speak with U.S. President Donald Trump following the announcement of a 25% tariff on all steel and aluminum imports, which is expected to impact approximately $900 million worth of Australian goods. Albanese emphasized the need for Australia to seek an exemption from these tariffs to protect its national interests and maintain a free and fair trading environment. The Prime Minister expressed confidence in navigating diplomatic differences and highlighted Australia's historical trade surplus with the U.S. as a point of negotiation. The announcement has already affected Australian markets, with a significant drop observed following the tariffs' introduction. Industry leaders are urging the government to act swiftly to mitigate the impact on the domestic steel and aluminum sectors. Previous exemptions granted in 2018 are being referenced as a potential pathway for negotiating new terms under the current administration.