Australian Prime Minister Anthony Albanese announced that Australia will not impose reciprocal tariffs on the US, despite the US decision to enforce a 25% tariff on imported steel and aluminum. He added that retaliatory tariffs would only drive up costs for Australian consumers and increase inflation.

The US had previously exempted Australia from similar tariffs during Donald Trump's first term as president. Albanese said he would continue lobbying for an exemption but had no plans to travel to the US for negotiations.

While the tariffs will impact Australian metal producers, they could also indirectly affect miners supplying raw materials. Despite this, steel and aluminum exports to the US account for less than 0.2% of Australia's total exports.