(VOVWORLD) -The US’s 25% tariff on all imported steel and aluminum began to take effect on Wednesday, reinforcing the White House’s commitment to strict enforcement without exceptions.
 (Illustrative photo: CANADIAN PRESS/VNA) |
The move is said to be aimed to protect American metal manufacturers and revitalize the domestic steel and aluminum industries. American steel manufacturers have largely welcomed the decision, viewing it as a crucial step toward restoring the strength of US steel production.
In response, Australian Prime Minister Anthony Albanese said Australia would not impose retaliatory tariffs, despite not receiving an exemption. Speaking at a press conference in Sydney on Wednesday, Albanese called the tariff unjustified but stressed that countermeasures could further drive up domestic prices and worsen inflationary pressures.
He reaffirmed Australia’s commitment to working with the US to promote trade cooperation and mutual economic growth.