Chalmers flies to Washington in latest bid to avoid Trump tariffs
Treasurer Jim Chalmers is headed to Washington DC to talk trade and tariffs with United States treasury secretary Scott Bessent, as Australia seeks an exemption to US President Donald Trump’s steel and aluminium tariffs.
But Chalmers said he did not expect his one-on-one with Bessent – their first meeting since the former investor and fund manager took up his role in Trump’s administration – to bring an end to negotiations.
Treasurer Jim Chalmers will spend the beginning of this week in Washington DC.Credit: Alex Ellinghausen
Australia has been lobbying for a dispension from Trump’s plan to impose 25 per cent tariffs on steel and aluminium amid fears of a damaging hit to jobs and exports. The US president has suggested a carve-out for Australia is under consideration but a final decision is due within weeks.
“Trade and tariffs will be part of the conversation, but not the whole conversation. That is an ongoing discussion that we’re having with our American counterparts. I don’t expect we will conclude those discussions on steel and aluminium while I’m in DC,” Chalmers said on ABC’s Insiders on Sunday.
“But whether it’s the flow of capital or critical minerals and trade, there’s lots to talk about, this is a relationship which benefits both sides, the Americans and the Australians.”
The treasurer’s visit to Washington DC also coincides with a superannuation showcase convened by US Ambassador Kevin Rudd at the Australian embassy, where Australian super funds will push to build ties with US businesses. More than a third of foreign private market investment from Australian super funds goes to the US.
“That’s all about stronger returns for Australians from stronger ties with the American economy,” Chalmers said.
Chalmers said he would not pre-empt the outcome of the tariff discussions, but pointed to a phone conversation between Trump and Prime Minister Anthony Albanese earlier this month, as well as visits to the US by Defence Minister Richard Marles and Foreign Minister Penny Wong.
“[They] have met with their counterparts already. I think that augurs well for the strength of the relationship,” he said.
