Overview

• Australia proposed a guaranteed, volatility-free supply of critical minerals to the US in an effort to secure an exemption from Trump’s 25% steel and aluminium tariffs.
• The Trump administration rejected the offer, with officials citing grievances over Australia’s past increases in aluminium exports to the US.
• Australian Ambassador Kevin Rudd and government officials engaged in extensive negotiations, but their efforts were unsuccessful as the tariffs went into effect on March 12.
• Critics have questioned the Albanese government’s strategy, highlighting the lack of transparency and potential risks to Australia’s long-term trade interests.
• The Coalition and other opposition figures have criticized the government for failing to secure a deal, while warning of potential future US tariffs on Australian exports.