After the US announced to impose the heavy tariff on steel from Vietnam due to the products' fake origin issue, the market participants worried about whether or not the US would change the policy on Australian aluminum.
According to the news, the US president, Donald Trump, had told the president of Australia, Scott Morrison, on their both sides meeting on Group of Twenty (G20) that in the first quarter of 2019, the exports of aluminum from Australia to the US had increased dramatically by 350% year on year in the first quarter of this year.
Last year, Donald Trump had imposed the 25% tariff on steel product and 10% on aluminum products and Australia was the only country that got the full exemption.
The market focused on whether the US would use the same way as treating Vietnam to impose a high tariff on those who using Australia to evade the tariff.
US president concerns surging aluminum imports from Australia
5 Jul 2019 15:21 reported by Jordan Huang
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