Australia won't retaliate against 'unjustified' US tariffs on steel, aluminum

Australian Prime Minister Anthony Albanese said Wednesday that US tariffs on Australian steel and aluminum were unjustified but his government would not retaliate with its own tariffsUS President Donald Trump said last month he was considering a tariff exemption for Australia a free trade treaty partner that has traded with the United States at a deficit for decadesA former Australian government secured an exemption with the previous Trump administration in 2018 based on arguments including that Australian steelmaker BlueScope employs thousands of workers in the USAlbanese said he would continue to pursue an Australian exemption The 2018 exemption took several months to secureIt has been foreshadowed that no country regardless of its relationship with the United States has been granted an exemption Such a decision by the Trump administration is entirely unjustified Albanese saidTariffs and escalating trade tensions are a form of economic selfharm and a recipe for slower growth and higher inflation They are paid by the consumers This is why Australia will not be imposing reciprocal tariffs on the United States Albanese addedThe US officially increased tariffs on all steel and aluminum imports to 25 per cent on WednesdayThe US decision not to exempt Australia was announced days after a spat became public between Trump and the former Australian prime minister who secured the 2018 exemption Malcolm TurnbullTrump described Turnbull who quit politics in 2018 after being overthrown as prime minister by his own government as a weak and ineffective leaderMalcolm Turnbull the former Prime Minister of Australia who was always leading that wonderful country from behind never understood what was going on in China nor did he have the capacity to do so Trump wrote on social mediaI always thought he was a weak and ineffective leader and obviously Australians sic agreed with me Trump addedTrump was responding to an interview Turnbull gave this week to US media company Bloomberg in which the former Australian leader said Chinese President Xi Jinping would take advantage of the US presidents chaotic and erratic leadershipI think China will take advantage massive advantage of Trump Turnbull told BloombergWhat my prediction will be that President Xi will aim to be the exact opposite of Trump Where Trump is chaotic he will be consistent Where Trump is rude and abusive hell be respectful Where Trump is erratic he will be consistent Turnbull saidAnd what that will do is build trust with countries and therell be many countries who will you know looking at China on the one hand and Trump on the other will find China a more attractive partner Turnbull addedThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever