The Australian Steel Institute (ASI) welcomes the announcement that US has confirmed the continuation with tariff exemptions for Australian steel and aluminum producers.
ASI Chief Executive, Tony Dixon said "this is a sensible decision and acknowledges that the US has a trade surplus with Australia and the integrated nature of the supply chains for these products".
In March the US announced it would impose a 25 per cent tariff on imported steel and a 10 per cent tax on aluminum. It was later advised that Australian steel and aluminium exports will be exempted from President Donald Trump's tariffs following a sustained eight-month lobbying exercise by the Prime Minister, his senior ministers and key members of Australia's business community.
This is a permanent exemption with no changes to previous trading agreements between Australia and the US, it's business as usual.
The ASI supports free and fair trade under the rules-based system underpinned by the WTO and warns that regulators should remain vigilant to ensure the knock-on effects of the US tariffs do not result in product being illegally dumped in Australia.
Clearly, the concern for us as a domestic industry is the dislocation of any steel out of North America and into other markets. The ASI applauds the improvements in the Anti-Dumping process. However, in this environment the Australia’s anti-dumping regime needs to be even sharper and more robust going forward. We’ve welcomed previously the bipartisan support that we’ve had around ensuring that our domestic market is not a victim of unfair trade.
Tony Dixon, Chief Executive
+61 419586346
Tony Dixon, Chief Executive
+61 419586346 ---
