In this episode, we dive deep into Donald Trump’s controversial 25% tariff on steel and aluminum imports, examining the implications for Australia and its ongoing efforts to secure an exemption. Despite Trump’s initial declaration of “no exemptions,” a key phone call between Prime Minister Anthony Albanese and President Trump raised hopes for special consideration.

We explore:

• Australia’s Case for Exemption: With a trade surplus and critical steel and aluminum exports to the U.S., Australia’s position is unique. We look at the vital role of companies like BlueScope and Rio Tinto, and why the U.S.-Australia defense ties matter.
• The "Verbal Commitment" Controversy: The U.S. claims Australia broke an agreement to limit aluminum exports, with volumes for 2024 up by over 100%. What does this mean for negotiations?
• Economic Impact: The tariff could hurt Australian industries, raise costs for U.S. consumers, and stir global economic concerns.
• Historical Parallels: We explore the 1930 Smoot-Hawley Tariff and the lessons it offers on global trade wars.
• Political Reactions: From Australia’s government to U.S. lawmakers and former leaders, we break down the political fallout.
• Retaliation Options: Could Australia retaliate by imposing tariffs or reconsidering the AUKUS deal?

This episode unpacks the uncertainty of whether Australia will avoid the tariff storm, its potential consequences, and what this means for global trade. Tune in for an in-depth analysis of the trade war’s looming impact.