Australia seeks tariff exemption deal with Trump

Australia's Trade Minister Don Farrell announced efforts to negotiate a tariff exemption with the U.S. amid new 25% tariffs on steel and aluminum exports. Farrell is seeking clarity on U.S. demands and plans to make a compelling offer to President Trump. The Australian government is also exploring trade relationships with other countries, including South Korea, to diversify its trade options. Farrell emphasized that Australia will not impose retaliatory tariffs on the U.S. Previously, Australia had secured a tariff exemption during Trump's first term, but negotiations have become more complex under the current administration. The U.S. rejected Australia's offer of guaranteed supply for critical minerals.