- The Australia-US Free Trade Agreement (AUSFTA) was signed in 2005.
- The AUSFTA reduced most of Australia’s non-agricultural exports and 75% of agricultural exports to duty-free.
- In 2017, President Trump imposed tariffs on steel and aluminum imports.
- Australia was granted an exemption from the tariffs, but the AUSFTA did not play a role in obtaining the exemption.
- President Trump has expressed concerns about broad FTAs that do not serve the US’s best interest.
- President Trump has imposed tariffs on goods from Canada, Mexico, and China.
- President Trump has threatened tariffs on the EU and other countries.
- President Trump has declined to provide an exemption for Australian exports of steel and aluminum.
- Australia is bracing itself for the possible imposition of tariffs by the US.
- Additional tariffs that can be implemented include anti-dumping and countervailing duties, Section 301 tariffs, Section 232 duties, and Section 201 “Safeguard” tariffs.
Source: bdo.global
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
