Australia's Treasurer to head to Washington to seek removal of US tariffs
Australian Prime Minister Anthony Albanese discussed with Trump possibility of removing tariffs (photo: Getty Images)
On Sunday, February 23, Australia's Treasurer Jim Chalmers will embark on a visit to Washington. He plans to meet with US Treasury Secretary Scott to discuss trade issues and tariffs and seek the removal of steel and aluminum tariffs, according to Bloomberg.
This trip is critical for Australian Prime Minister Anthony Albanese and his left-leaning government, which is under pressure as elections are required within the next three months, and it is trailing in recent opinion polls.
The Prime Minister is under significant pressure from Australian lawmakers and business leaders who are pushing for tariff exemptions after lengthy negotiations during Trump's first term helped Australia avoid similar trade barriers.
"Trade and tariffs will be part of the discussion," said Chalmers.
He plans to meet with Bessent and highlight areas of economic partnership, including major investments by Australia's $2.6 trillion pension industry in the US. It is known that large Australian funds invest about one in five dollars of their members' retirement savings in the US.
As a reminder, Trump imposed a 25% tariff on steel and aluminum imports from all countries, which will take effect on March 12.
However, the US President noted that he might consider making an exception for Australia, taking into account the import of US-made aircraft. Later, senior trade adviser to the US President, Peter Navarro, stated that Australia is killing the US aluminum market.
