The Business Council says that while the White House's confirmation of US tariffs on Australian aluminium and steel coming into effect is disappointing, it is not unexpected and the Federal Government should continue its important work making the case for Australia's interests.
BCA Chief Executive Bran Black said, "Australia should adopt a cool-headed response to this news and keep making the case for our interests through continued extensive engagement with the US Administration."
In 2023, the combined value of aluminium and steel exports to the United States was less than $1 billion, and Australian aluminium makes up 2.5 per cent of US imports by volume and about 1 per cent of Australia's total exports, with steel less than half that.
"It's important to remember that it took eight months for the Australian Government to secure tariff exemptions under the last Trump administration - what this tells us is that these discussions are complex and that patience and persistence are key," Mr Black said.
"My primary concern is with the broader trade picture and the risk that lies ahead for our economy if a global contest of reciprocal tariffs were to escalate.
"Fundamentally, we're a trading nation, and so opening up and retaining unimpeded access to global markets increases our economic growth and supports local jobs."
