Source: The Patriot Light | AWK Network | VIEW ORIGINAL POST ==>
Jim Chalmers will travel to Washington tonight to meet with the US secretary of trade to discuss the threat of steel and aluminium tariffs.
Labor is looking at introducing quotas for local steel in major projects to shelter the Australian steel industry after U.S. President Donald Trump announced future tariffs.
“We’re looking at the procurement part of this,” Treasurer Jim Chalmers told ABC’s Insiders.
“If there’s more that we can do, more that we can think through on that front, obviously we’ll do it.”
The Australian Steel Institute warned that if the future of steel production was not guaranteed, Australia would be exposed to significant economic repercussions and job losses.
When asked if the quotas may push up construction costs, Chalmers said the government would consider the implications.
“But we want Australian steel used in Australian projects,” he said.
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“There’s no doubt about that already.”
Potential Tariffs
Trump is expected to hand down his decisions on tariffs for steel and aluminium by mid-March, after which cheap Chinese steel is likely to become available in Australia.
Chalmers confirmed he will travel to Washington on Feb. 23 to…
