Australia Considers WTO Challenge as Trump Doubles Steel Tariffs
(MENAFN) A news agency revealed Monday that Australia is evaluating the possibility of contesting the United States at the World Trade Organization (WTO) in response to President Donald Trump's steep steel and aluminum tariff hikes.
Trump has unveiled a plan to double import tariffs on these metals to 50%, effective this Wednesday.
Currently, Australian exports face a standard 10% tariff, according to the news agency, though the outlet did not provide further details on Canberra's approach for disputing the new U.S. tariffs at the WTO.
Later this month, Prime Minister Anthony Albanese is slated to meet President Trump during the G7 summit in Canada.
Albanese emphasized that he will clearly communicate Australia’s stance through "a variety of channels."
In the words of the agency, "This is an act of economic self-harm by the United States. It will increase costs for consumers in the United States because it is supplied across the board."
The agency also quoted, "What it will do is not create any comparative advantage or disadvantage compared with other countries that export into the United States. It is an inappropriate action by the Trump administration."
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