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Australia gets US steel tariff exemption
11 Mar 2018 | Archive
The Australian Chamber of Commerce and Industry (Australian Chamber) welcomes the announcement that Australia will be exempt from the proposed US tariffs on steel and aluminium, Australian Chamber CEO, James Pearson, said today.
“What we now need is for Australia to use its diplomatic skills to help to avert a global trade war that no-one will win,” Mr Pearson said.
“The selective application of tariffs might have short term political appeal, but in the long run it distorts the flow of trade and runs the risk of tit-for-trade sanctions that will wreak broader economic harm. In the end, no country wins when tariffs are selectively applied.
“For example, if exporting nations withdraw from the US market they will look for other markets, including Australia, and so the global market might become distorted.
“Tariffs are a tax on imports that makes it more expensive to do business and impose unnecessary costs on households.
“As such, the Australian Chamber continues to call for the phasing out of all tariffs – including those applied by Australia on imported goods – and the rejection of increased anti-dumping actions outside of those sanctioned by the World Trade Organisation.”