United States President Donald Trump has disclosed plans to impose 25 percent tariffs on all steel and Aluminium imports, and reciprocal tariffs on countries levelling duties on US goods.
Trump said on Sunday that he would formally announce the tariffs on steel and Aluminium the following days, and the countervailing levies later in the week.
He however did not specify which country would be subject to the retaliatory tariffs but said they would not affect all countries.
The US government and American Iron and Steel Institute data says, Canada is the top supplier of steel to the US, followed by Brazil, Mexico, South Korea and Vietnam.
Canada is also the top exporter of aluminium to the US, with other chief suppliers including China, Mexico and the United Arab Emirates.
Australian Prime Minister Anthony Albanese disclosed his intention to speak with Trump on the issue.
The UN trade data disclosed that Australia exported about $237m worth of steel and iron to the US in 2023, and some $275m worth of aluminium the following year.
This development comes after his announcement last month of plans to impose 25 percent tariffs on all Canadian and Mexican goods as well as a 10 percent tariff on Chinese imports.
The US president however accepted to delay the measures on Canada and Mexico after the two countries pledged more effort to curb the flow of illegal drugs and undocumented migrants across the US border.
