
US President Donald’s trade adviser Peter Navarro said late Tuesday that Australia was “killing the aluminium market”, the day after Trump signed executive orders for import tariffs on some metals. Australia hopes to secure exemptions to the new taxes on steel and aluminium.
Trump on Monday signed executive orders, which will see 25% taxes placed on imports of steel and aluminium to the United States from March 12.
Market reaction
At the press time, the AUD/USD pair is down 0.07% on the day to trade at 0.6292.
Tariffs FAQs
Tariffs are customs duties levied on certain merchandise imports or a category of products.
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