On Sunday, February 23, Australia’s Treasurer Jim Chalmers will visit Washington. He aims to meet with U.S. Treasury Secretary Scott Bessent to discuss trade issues, tariffs, and seek the repeal of steel and aluminum duties.
This information was reported by RBK-Ukraine citing Bloomberg.
According to the publication, this trip is crucial for Australian Prime Minister Anthony Albanese and his center-left government, which is facing elections within the next three months and is trailing in recent opinion polls.
The Prime Minister is under significant pressure from Australian lawmakers and business leaders who are demanding tariff exemptions after lengthy negotiations during Trump’s first term helped Australia avoid such trade barriers.
"Trade and tariffs will be part of the discussion, but not the entire conversation," Chalmers stated.
He plans to meet with Bessent and highlight areas of economic partnership, including significant investments in the U.S. by Australia’s $2.6 trillion pension industry. It is known that major Australian funds invest about one in five dollars of their members' retirement savings in the U.S.,
It is worth noting that Trump imposed a 25% tariff on steel and aluminum imports from all countries, with the decision set to take effect on March 12.
However, the U.S. President indicated that he might consider making exceptions for Australia, given the import of American-made airplanes. Later, senior trade advisor to the U.S. President Peter Navarro stated that Australia is "killing" the U.S. aluminum market.