Trump Reportedly Broke Another Promise, This Time To Australia

Trump Reportedly Broke Another Promise, This Time To Australia

"We can take some comfort in the criteria for exclusion being a defence ally without a trade surplus with the United States of America, a criteria which Australia clearly meets", Mr Willox said on Friday.

"There is literally nothing to be gained in the imposing a tariff", Malcolm Turnbull said during a speech at the Financial Review Business Summit in Sydney.

Mr Trump tweeted that he had spoken to the Prime Minister Malcolm Turnbull who was "committed to having a very fair and reciprocal military and trade relationship".

Donald Trump has confirmed that he and Malcolm Turnbull are working on an agreement under which the USA will provide Australia an exemption from steel or aluminium tariffs.

Trump last exempted Canada and Mexico from the duties - 25 per cent on steel and 10 per cent on aluminum - and said USA allies would have 15 days to negotiate possible exemptions.

On Thursday, Trump approved a plan to levy a 25 percent tariff on steel and 10 percent on aluminum.

Donald Trump took to Twitter Saturday morning to announce "the great nation of Australia" will be exempt from tariffs under new security and trade deal.

Meanwhile, Mr Willox welcomed Australia's signing of the Trans-Pacific Partnership trade pact and said the U.S. may sign up once it sees the benefits to other members.

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Trump in January set a 120-day deadline for US lawmakers and European allies to "fix" the agreement or face a USA withdrawal. Zarif countered that Europe needed to "play a more constructive role to preserve" the nuclear deal.

Malcolm Turnbull has warned the United States off its plan to impose hefty new tariffs on Australia.

The tweet is the second time Mr Trump has singled out Australia for a possible exemption.

He said the threat of Australia sustaining collateral damage in a trade war also remained real. Do you think it's important for Australia to keep the USA on-side?

Trump has said he would consider exemptions based on national security grounds and the economic relationship between various countries and the U.S.

"History tells us they are bad, and they end up causing not just a contraction in the global trade but, as a result of that, a contraction in global growth", he told the ABC.

Australia is a small global exporter of steel despite being one of the world's largest suppliers of the raw commodity iron ore.

The decision has been made following negotiations held between the United States and Australia on the matter.