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Trump on Friday said Australia would become the third country to
be free from a 25 percent tariff on steel imports and 10 percent
for aluminum.
Exporting just over A$400 million ($314.32 million) last year,
Australia is a relatively small supplier of steel and aluminum
to the United States.
"This is a great outcome for us and... (for) jobs in North
America," Mark Vassella Managing Director and CEO of BlueScope
Steel <BSL.AX> - Australia's largest exporter - told reporters
in Sydney.
"A win on both sides of the Pacific."
Shares in BlueScope rose more than 3 percent on Monday,
outperforming the broader market <.AXJO>, which recorded modest
gains.
While it was good news for Australian exporters, producers
fear the U.S. tariffs could hit them indirectly, as exporters
that are subject to the tariffs try to find other markets for
their steel and aluminum.
Rejecting calls for additional laws to prevent potential
dumping, Australian Prime Minister Malcolm Turnbull said
existing measures were sufficient.
"There are 77 anti-dumping measures in place, 50 related to
steel. Seven are related to aluminum. We want to ensure a level
playing field. We are passionately committed to free trade, but
it must be fair," said Turnbull.
Turnbull also said Australia would not join an international
protest against the U.S. tariffs.
South Korea's trade ministry said last week it will take a
dispute to the World Trade Organization against the United
States for imposing high anti-dumping duties on South Korean
steel and transformers.
(Reporting by Colin Packham; Editing by Simon Cameron-Moore)
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