The voice of Australian steel, the Australian Steel Institute (ASI), said it will continue to work with the Australian Government to secure an exemption from the USA's global tariff on steel imports, in the wake of a decision by the Trump administration to up the tariff from 25% to 50% from Wednesday (June 4).
ASI chief executive Mark Cain said the tariff was disappointing, but the ASI will continue pressing for relief on behalf of its 7,000 members.
"One of concerns we have is that the subsequent disruptions to global steel trade could see Australia become a dumping ground for imported steel," Cain said. "And it could exacerbate the surge in imported low-priced steel that is damaging the industry."
The Trump administration's announcement comes amid a court battle over the legality of some of the Trump tariffs, which an appeals court has allowed to continue after the US Court of International Trade ordered a halt.
The last Trump administration granted Australia an exemption after nine months of lobbying by the ASI, government and others.
ASI is the peak body for the Australian steel industry, representing 700 companies and 7,000 members. Steel generates 100,000 jobs and $30b in annual revenue in Australia.
