There will be no exception: Australia is killing the US aluminum market — Bloomberg

Australia is killing the aluminum market of the United States. This was stated by senior adviser to President Donald Trump on trade and manufacturing Peter Navarro, Bloomberg reports.

Peter Navarro on Tuesday accused Australian exporters of flooding the US market in violation of the agreement between the two countries.

"Australia is simply killing our aluminum market. President Trump is saying, 'No, no, we're not doing that anymore,'" Navarro told CNN.

These remarks were made after Australian Prime Minister Anthony Albanese and Trump spoke on the phone on Tuesday. At the same time, the prime minister said that the president agreed to consider exempting Australia from tariffs on steel and aluminum in the United States.

It is noted that Trump this week imposed 25 percent tariffs on all steel and aluminum imports from March 12, with no exceptions, although he added that he would "consider" some possible leeway for Australia. The explanatory note to the introduction of import duties states that the volume of primary aluminum imports from Australia to the United States increased by about 103% in 2024 compared to the average volume from 2015 to 2017, according to the Australian Broadcasting Corporation.

"They just flood our markets. That's what we're dealing with. Our aluminum industry is on its back," Navarro said of Australia's aluminum exports.

Aluminum is Australia's main export commodity, but according to government data, the United States accounted for only 2.4% of shipments in 2024. The problem may be more serious for the country's steel sector — the US accounts for about 30% of Australia's steel and steel exports.

Bloomberg Economics believes that US tariffs are unlikely to cause great economic damage to Australia by themselves, while the concomitant increase in political uncertainty may affect companies' investment decisions and undermine business confidence.