TARIFF ON STEEL – UNITED STATES

Australia accused of breaking its word on exports as Trump presses go on tariffs

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Original article by David Crary, Michael Koziol, Olivia Ireland
The Age – Page: Online : 12-Feb-25

President Donald Trump signed an executive order to impose a tariff of 25 per cent on all steel and aluminium imports to the US on Tuesday, shortly after discussing the issue with Prime Minister Anthony Albanese. Trump said there will be "no exceptions", although he had earlier told Albanese that an exemption will be considered due to factors such as America’s trade surplus with Australia. The executive order contended that Australia’s exports of primary aluminium to the US have surged in recent years, despite a verbal commitment to limit these exports. The tariffs will take effect from 12 March, giving the government just one month to negotiate an exemption in the lead-up to the federal election.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

US extends tariff exemptions

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Original article by Tom McIlroy
The Australian Financial Review – Page: 15 : 2-May-18

The US has indicated that an agreement to exempt Australia from tariffs on steel and aluminium will be finalised shortly. President Donald Trump announced an in-principle agreement on 1 May. Prime Minister Malcolm Turnbull said the deal reflects the "fair and reciprocal" trade relationship between Australia and the US, and ensures that this relationship will continue in such a manner. He added that the tariff exemptions will support jobs in both countries.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, UNITED STATES. DEPT OF STATE, BLUESCOPE STEEL LIMITED – ASX BSL, WORLD TRADE ORGANIZATION

Donald Trump takes to Twitter to confirm Aussie tariff exemption

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Original article by Karen Sweeney
The Australian Financial Review – Page: Online : 12-Mar-18

The US and Australia are looking at ways to exempt Australia from proposed tariffs on steel and aluminium. President Donald Trump has used Twitter to confirm he and Prime Minister Malcolm Turnbull are in discussions along these lines. The US is planning to impose 25 per cent tariffs on steel and 10 per cent tariffs on aluminium. Innes Willox, the CEO of the Australian Industry Group, while welcoming the possibility of exemptions, noted they would only apply to shipments from Australia, and not from shipments from Australian firms in other markets. See below for Trump’s tweet.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, THE AUSTRALIAN INDUSTRY GROUP

Warning of economic ruin from Trump protectionism

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Original article by Primrose Riordan, Ben Packham, Joe Kelly
The Australian – Page: 1 & 6 : 9-Mar-18

More than 100 Republican members of the US House of Representatives have urged President Donald Trump to abandon his plan to impose punitive tariffs on steel and aluminium imports. Global sharemarkets rallied on 8 March after Trump signalled that the US would temporarily exempt Canada and Mexico from the tariff regime. Meanwhile, on the eve of signing the 11-nation Trans-Tasman Partnership, Australia’s Trade Minister Steve Ciobo has warned of the economic consequences of the growing trend toward protectionism, particularly when it is conflated with patriotism.

CORPORATES
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, TRANS-PACIFIC PARTNERSHIP, UNITED STATES. DEPT OF STATE, AMERICAN AUSTRALIAN BUSINESS COUNCIL, DOW CHEMICAL COMPANY, NEWS CORPORATION – ASX NWS, RESERVE BANK OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Rio iron ore mines shielded from potential US tariffs

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Original article by Brad Thompson
The Australian Financial Review – Page: 17 : 8-Mar-18

Rio Tinto has advised that the automation of its haulage trucks will result in the loss of 200 jobs at its Brockman 4 and Marandoo iron ore mines in the Pilbara. The technology will also be rolled out at the West Angelas mine. Chris Salisbury, the CEO of Rio Tinto’s iron ore division, says 25 per cent of the company’s fleet has been automated to date. He adds that the steel tariff policy of President Donald Trump is unlikely to affect demand for iron ore from the Pilbara, as a small proportion of the steel output of Rio Tinto’s Asian customers is exported to the US.

CORPORATES
RIO TINTO LIMITED – ASX RIO, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Turnbull, BHP warn Trump on the dangers of a trade war

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Original article by Phillip Coorey
The Australian Financial Review – Page: W1 & W2 : 7-Mar-18

The signing of the 11-nation Trans-Pacific Partnership free trade deal on 7 March has coincided with President Donald Trump’s push to increase US tariffs on imported steel and aluminium. Prime Minister Malcolm Turnbull will use the keynote address at a business summit in Sydney to emphasis the importance of free trade and open markets, and the negative effects of a trade war. BHP Billiton CEO Andrew Mackenzie has also expressed concern about Trump’s protectionist stance, although he is confident that free trade will prevail.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, TRANS-PACIFIC PARTNERSHIP, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, BHP BILLITON LIMITED – ASX BHP, REPUBLICAN PARTY (UNITED STATES), DEMOCRATIC PARTY (UNITED STATES), INTERNATIONAL MONETARY FUND, AUSTRALIAN LABOR PARTY, ADANI MINING PTY LTD, AUSTRALIA. DEPT OF FINANCE, UNITED STATES. DEPT OF COMMERCE

Labor, unions urge PM to fight tariffs

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Original article by Primrose Riordan, Joe Kelly, Andrew Burrell, Ben Packham, Cameron Stewart
The Australian – Page: 4 : 6-Mar-18

Federal Government ministers have begun lobbying their US counterparts in a bid to exempt local companies from the Trump administration’s new tariff regime for steel and aluminium imports. Shadow treasurer Chris Bowen notes that Australia’s steel and aluminium exports to the US are worth $A240m and $A70m respectively. Daniel Walton, the national secretary of the Australian Workers’ Union, has warned of significant job losses in the local steel and aluminium sectors due to the tariff hikes, as well as the potential for the Australian market to be flooded with more low-cost steel from China.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF DEFENCE, UNITED STATES. DEPT OF COMMERCE, RIO TINTO LIMITED – ASX RIO, BLUESCOPE STEEL LIMITED – ASX BSL

Trump’s trade war hits home

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Original article by Jacob Greber, John Kehoe
The Australian Financial Review – Page: 1 & 10 : 5-Mar-18

Deloitte Access Economics has forecast that President Donald Trump’s tariffs on foreign steel and aluminium could lead to a US-China trade war that could reduce Australia’s national income by $A5 billion within a year. Australian silicon exporter Simcoa is facing a tariff of 51 per cent, while Trade Minister Steve Ciobo says Australia may take action against the US over its proposed tariffs. He says it will depend on whether Trump decides to make exemptions for Australia, while Prime Minister Malcolm Turnbull describes protectionism as a "dead end".

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, SIMCOA INTERNATIONAL PTY LTD, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BLUESCOPE STEEL LIMITED – ASX BSL, WORLD TRADE ORGANIZATION, GLOBE SPECIALTY METALS, RIO TINTO LIMITED – ASX RIO

Trump trade war fears sparks stock plunge

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Original article by John Kehoe
The Australian Financial Review – Page: Online : 2-Mar-18

The Dow Jones Industrial Average fell sharply after US President Donald Trump announced plans to impose a 25 per cent tariff on imported steel and a 10 per cent tariff on foreign aluminium. His announcement came less than one hour after Federal Reserve chairman Jerome Powell had told US legislators that he did not think tariffs were the best way of addressing the possible negative side-effects of international trade. Trump’s announcement is not expected to be well-received by China.

CORPORATES
DOW JONES INDUSTRIAL AVERAGE INDEX, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, UNITED STATES. FEDERAL RESERVE BOARD, BLUESCOPE STEEL LIMITED – ASX BSL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, FARR, MILLER AND WASHINGTON LLC, US STEEL MINING COMPANY INCORPORATED, CENTURY ALUMINIUM COMPANY, CATERPILLAR INCORPORATED, BOEING COMPANY, ALLIANZ GLOBAL INVESTORS US, OXFORD ECONOMICS LIMITED