Treasurer Jim Chalmers to visit US counterpart in Washington DC to talk trade amid tariffs threat

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Treasurer Jim Chalmers to visit US counterpart in Washington DC to talk trade amid tariffs threat

Treasurer Jim Chalmers will fly to Washington on Sunday for critical trade discussions amid the Trump administration’s threats to impose 25 percent tariffs on steel and aluminium.

The US trip will mark the first time Mr Chalmers has met with his US counterpart, Secretary of the Treasury Scott Bessent, in person since President Donald Trump returned to office.

Dr Chalmers said trade and tariffs were expected to be a key issue, and while he aimed to secure carve-outs to protect *********** interests, this would not be the sole focus of the meeting.

“Trade and tariffs will be part of the conversation but not the whole conversation,” he told ABC Insiders on Sunday.

“That’s an ongoing discussion that we’re having with our American counterparts. I don’t expect to conclude those discussions on steel and aluminium while I’m in DC.

“But whether it’s the flow of capital or critical minerals and trade — there’s lots to talk about. This is a relationship which benefits both sides, the Americans and the Australians.”

In a phone call between the US president and Prime Minister Anthony Albanese earlier this month, Mr Trump said he would consider exempting Australia from 25 per cent tariffs on steel and aluminum because it has a trade surplus with the US.

It was seen as a hopeful sign for more moderate trade policies ahead of March 12, when the tariffs are due to commence.

Despite positive comments made after the phone call, threats of the tariffs remain after allegations from senior US trade officials that Australia is “flooding” the US market with aluminium — a contravention of a previous agreement.

Under the former Liberal Prime Minister Malcolm Turnbull, Opposition had managed to secure tariff exemptions when negotiating with the first Trump administration. It marks a pressure point for Mr Albanese ahead of the looming Federal election.

The then-Liberal *********** government had agreed to place a “ceiling” on the volume of aluminium shipments to the US in order to secure an exemption from those previous tariffs in 2017-18.

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